Legal Week reports
October 08, 2003 at 08:03 PM
1 minute read
The original version of this story was published on Legalweek
Travers Smith Braithwaite has advised long-established client NTL on the UK aspects of its proposed, fully-underwritten $1.05bn (£632m) rights issue.
Proceeds from the rights issue will help NTL pay off the debts accrued in January through exit finance loans when it came out of Chapter 11 proceedings. It will use the cash to repay its 19% senior secured notes that are due in 2010 and to pay off some of its working capital facility.
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