Schroder Salomon Smith Barney and a group of 11 other banks have pulled off a heavyweight financing deal for a top Spanish cable television firm in the face of a difficult market.

The banks, led by SSSB, put together a €1.1bn ($949m) financing package for Ono, the new brand name for Spain's largest cable television operator formerly known as Cableuropa. The company originally attempted to raise €388m via an initial public offering last year, but was forced to abandon its float due to perilous conditions in European stock markets.