Germany, Berlin, November 11, 2023 – Tele Columbus AG (the “Company”), one of the leading operators of fiber based networks in Germany, is in advanced discussions with its key stakeholders, including an ad hoc group of its financial creditors (the “Ad Hoc Group”) that consists of a majority of the lenders under its €462 million term loan facility and a majority of the investors in its €650 million senior secured notes.
The Company expects those discussions to result in an equity contribution from its shareholder of €300m (including amounts already announced), subject to documentation and an extension of financial debt maturities at par to 2028. The Company will provide an update in the coming days as further milestones are reached.
In the context of those discussions, the Company has not paid the coupon due under its €650m senior secured notes which was due on November 2nd 2023. There is a 30 day grace period in respect of the coupon payment.
The Company retains necessary funds to meet all due payments.
Picture files are provided at https://www.telecolumbus.com/presse/pressebilder/.
About Tele Columbus AG
Tele Columbus AG is one of the leading fiber-optic network operators in Germany with a reach of more than three million households. Under the PΫUR brand, the company offers high-speed Internet including telephone as well as more than 200 TV programs on a digital entertainment platform that combines classic television with video entertainment on demand. On the basis of open networks, the Tele Columbus Group implements customized cooperation models together with the housing industry and municipalities for high-performance supply with gigabit bandwidths via optical fiber to the home (FTTH). Carrier services and business solutions are provided for business customers under the PŸUR Business brand based on the company’s own fiber-optic network and data centers. The subsidiary RFC primarily provides service, maintenance and installation in network levels 2, 3 and 4 throughout Germany. The regional company MDCC provides Magdeburg with multimedia services for business and residential customers. The entire infrastructure of the Tele Columbus Group is powered by renewable energy. Tele Columbus AG has its headquarters in Berlin and offices in Leipzig, Unterföhring/Munich, Hamburg, Ratingen and Chemnitz.
Disclaimer
This release may contain forward-looking statements. These statements reflect the Company’s current knowledge and expectations and projections about future events. By their nature, forward-looking statements involve a number of risks, uncertainties, assumptions and other factors that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. Such risks, uncertainties and assumptions may cause our actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking statements. In light of these risks and uncertainties, the forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially from those anticipated or implied in the forward-looking statements. Accordingly, investors are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date of this document.
This release contains references to certain non-GAAP financial measures, such as Normalized EBITDA and Capex, and operating measures, such as RGUs, ARPU, and Unique Subscribers calculations. These non-GAAP financial and operating measures should not be viewed in isolation as alternatives to measures of the Company’s financial condition, results of operations or cash flows as presented in accordance with IFRS. The non-GAAP financial and operating measures used by the Company may differ from, and not be comparable to, similarly titled measures used by other companies.
All information contained in this release has been carefully prepared. However, no reliance may be placed for any purposes whatsoever on the information contained in this document or on its completeness. No representation or warranty, express or implied, is given by or on behalf of the Company or any of its directors, officers or employees or any other person as to the accuracy or completeness of the information or opinions contained in this document and no liability whatsoever is accepted by the Company or any of its directors, officers or employees nor any other person for any loss howsoever arising, directly or indirectly, from any use of such information or opinions or otherwise arising in connection therewith. The Company does not undertake any obligation to update or revise any information contained in this release, including forward-looking statements, whether as a result of new information, future events or otherwise.
