Thread: Telewest nearer £3.5bn debt swap
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Old 12-03-2004, 14:59   #1
SMHarman
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Join Date: Jun 2003
Services: Cablevision
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Telewest nearer £3.5bn debt swap
So NTL aren't doing that bad really!

Today's preliminary statement gave no update on progress in this. Instead investors were reminded: 'We are currently in default on our outstanding notes and debentures, certain of our finance leases and our bank facility. Because we are not making current interest payments on our notes and debentures, we have been able to finance our remaining working capital needs through available cash and cash generated through operations.

Operating losses before exceptional charges were cut by 74% to £62m in the year to December 2003. Net losses after all charges were slashed from £2.2bn to £272m.

http://www.thisislondon.co.uk/news/b...d75618?source=
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