German cable operator TeleColumbus Group has refinanced its existing credit lines as it looks to secure its long-term growth.
As well as the credit lines, with company has access to capex investment of around €300 million for expansion in the coming years. It is looking to increase its annual operating profit by double-digit figures through 2017.
“The completion of the refinancing markes a decisive breakthrough in tuhe developent of our company,” said Ronny Verhelst, CEO of the Group.
TeleColumbus currently serves 1.8 million homes in Eastern Germany. Around 95% of these are two-way capable.