CVC considers refinancing options for Nine Entertainment
CVC Asia Pacific is looking into refinancing options for up to A$3.5 billion ($3.7 billion) in debt on the books of portfolio company Nine Entertainment. Sources told Reuters that – contrary to earlier reports – the private equity firm is not yet in talks with banks and hedge funds about a refinancing. Unless there is a prospect of a default, the situation is expected to take a couple of years to play out.
Nine, which owns an Australian television network as well as the country's largest magazine publisher, has up to A$2.6 billion in senior debt is due in February 2013 and about A$900 million in mezzanine...
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