New USD 850 million Term Loan due 2024 was successfully priced and placed
- Telenet's new 8-year USD 850 million Term Loan due June 2024 was successfully priced and placed
- The new Term Loan carries a margin of 3.50% over Libor with a 75 basis points floor over Libor and was issued at 99.5%
- 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 extends the average tenor of its debt maturity profile at current attractive market conditions