New USD 850 million Term Loan due 2024, extending our tenor
Tuesday, May 3, 2016 —
- Telenet has launched an 8-year USD 850 million Term Loan due June 2024
- Net proceeds of this transaction are intended to be used to prepay Facility O and Facility P under Telenet's existing Senior Credit Facility and in turn to redeem the 300 million Senior Secured Fixed Rate Notes due February 2021 and the 400 million Senior Secured Floating Rate Notes due June 2021
- Through this leverage-neutral transaction, Telenet will extend the average tenor of its debt maturity profile at current attractive market conditions
Telenet Group Holding NV ("Telenet" or the "Company") announces the launch, on 2 May 2016, of a USD 850 million Term Loan ("Facility AD") due 2024. Pricing and syndication will occur in the following week.
Cfr Press Release