New USD 850 million Term Loan due 2024 was successfully priced and placed

Wednesday, May 11, 2016 —

  • 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

Published with Prezly