London Office Arranges $3.1 Billion Financing for UK Cable Merger
03.17.06
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On March 3, 2006, the companies formerly known as Telewest Global, Inc. and NTL Incorporated completed their combination, creating the UK's largest provider of residential broadband and the UK's leading provider of triple play services. The combined company, which has a NYSE market capitalization of about $8 billion, will operate under the name of NTL Incorporated. Simpson Thacher lawyers represented a bank group, including Deutsche Bank, J.P. Morgan, Royal Bank of Scotland and Goldman Sachs, that committed and funded a bridge facility for the acquisition in the amount of $3.1 billion, as well as an additional alternative bridge facility for approximately $1.0 billion.
The Simpson Thacher team included Nick Shaw, Antti Pesonen and Aurelien Jolly, with Meredith Jones and Jennifer Marsh providing tax advice. Hartwell Hylton and Walt Looney were the partners on the transaction.