Reuters: Private Equity: RLPC-Ono considers alternatives to 1.4 bln-euro refi

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RLPC-Ono considers alternatives to 1.4 bln-euro refi May 22nd 2012, 15:09 By Claire Ruckin LONDON | Tue May 22, 2012 11:09am EDT LONDON May 22 (Reuters) - Spanish cable company Ono is considering amending its existing 1.4 billion euros of leveraged loans and extending 2013 maturities, rather than opting for a full refinancing including high yield bonds, while European credit markets remain volatile, banking sources said. The company, also known as Cableuropa, entered into talks with its lenders to address its debt pile last month in a bid to take advantage of stronger credit market conditions and refinance 1.4 billion euros of leveraged loans. However, a weakening environment meant that other options including a more costly amend and extend process have been considered. A decision on the way forward is expected at the end of the week, banking sources said. Societe Generale is the agent on the deal. The leveraged loan and high-yield bond markets have come under increasing pressure as economic conditions have worsened and the euro zone crisis ploughs an ever deeper trough. (Reporting by Claire Ruckin; Editing by Will Waterman)

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