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Date: 2012-08-02
Reuters: RLPC-UK's Arqiva explores $5.3bln refinancing

By Claire Ruckin
August 2, 2012                           
(Taken from Reuters,
Aug 2 (Reuters) - Broadcast transmission provider Arqiva is exploring options to refinance its 3.4 billion pounds ($5.3 billion) of debt raised when Macquarie acquired National Grid Wireless in 2007, sources said on Thursday.
Early stage discussions are being held between shareholders of Arqiva, the company and a few banks on how to refinance the debt, some of which matures as early as 2014, the sources said.
Arqiva is owned by a consortium of seven shareholder groups, the two largest being Canada Pension Plan Investment Board with a 48 percent holding and Macquarie European Infrastructure Fund 2 with a 25 percent holding.
The deal would be the largest western European non-investment grade refinancing since German automotive group Schaeffler's $6.6 billion refinancing in February 2012, according to Thomson Reuters LPC data.

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