NTL deal lights way for telcos
News that UK telecom company NTL plans to re-approach the high-yield bond market with a £500 million deal, less than two years after it defaulted on $10.6 billion worth of bonds, signals a wider return of the telecom and technology companies to the market.
A string of high-yield technology companies over-borrowed in the late 1990s on the back of the technology bubble and many were subsequently forced to default and restructure their debts – including the UK’s Telewest, Dutch cable company UPC
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