DENMARK - TDC buys back its own debt
TDC, the Danish telecom giant owned by KKR, Apax, Blackstone, Permira and Providence Equity Partners, has completed a debt-buy back of EUR 200m.
By doing so TDC has created tensions with its lenders that supplied the debt package at the time of the buyout in 2005. The lenders argue that the debt buy-back at 90-95 cents to the Euro is a breach of the original loan agreement. However, according to press reports the private equity consortium is due to challenge this claim.
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