Refinancing at speed for VodafoneZiggo
free cash flow unlocked at inception, lowering leverage
committed facility with flexibility to upsize
Challenge
VodafoneZiggo needed to refinance its securitisation facility for 12 and 24 month mobile contracts — while also unlocking free cash flow and optimising working capital.
The challenge? Completing a complex transaction against a tight year-end deadline.
Solution
We proposed a tested off-balance sheet structure that allowed VodafoneZiggo to derecognise debt, boost free cash flow, and reduce leverage.
What we did:
To get there, we introduced a new external junior funder and renegotiated legal and commercial terms. Drawing on precedents from other Liberty Global securitisations, we delivered a solution that was both proven and tailored to VodafoneZiggo’s needs.
free cash flow unlocked at inception, lowering leverage
Signed and funded before year-end, meeting critical deadlines
committed facility with flexibility to upsize
Competitive pricing achieved with both senior and junior investors
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