Liberty Global's European division has restructured E530 million of its E850 million debt, creating two new tranches that will extend its due date from 2012 by two and three years respectively. As a result, around 95% of UPC Holding's debt will now be due in or after 2013.

Mike Fries, Liberty Global's president and CEO, described the move as "prudent in this environment" and undertaken "with the support of our lenders."

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