Press Release Telenet : Successful issuance and pricing of a new €1.6 billion and a USD 1.5 billion Term Loan due 2025

  • Successful issuance and pricing of a new 8-year €1.6 billion Term Loan and a new 8-year USD 1.5 billion Term Loan, both due January 31, 2025. Amidst buoyant investor demand, Telenet was able to significantly upsize both the € and USD tranches and achieved pricing at the tight end of the guidance range
  • The new € Term Loan carries a margin of 3.25% over EURIBOR with a 0% floor and was issued at par. The new USD Term Loan carries a margin of 3.00% over LIBOR with a 0% floor and was issued at 99.50%
  • Net proceeds of these issuances will be used to prepay all outstanding amounts under the €2.2 billion Term Loans due 2022-2023 and the USD 850.0 million Term Loan due 2024
  • Tenor extension of the undrawn €381.0 million revolving credit facility from September 2020 to June 2023 at same term and conditions ongoing
  • Through this leverage-neutral transaction, Telenet extends the average tenor of its debt maturity profile at current attractive market conditions, while ensuring increased covenant flexibility

- Today, Telenet Group Holding NV ("Telenet" or the "Company") announced the successful issuance and pricing of a €1.6 billion Term Loan ("Facility AE") and a USD 1.5 billion Term Loan ("Facility AF"), both due January 31, 2025. Facility AE carries a margin of 3.25% over EURIBOR with a 0% floor and was issued at par. Facility AF carries a margin of 3.00% over LIBOR with a 0% floor and was issued at 99.50%. Amidst buoyant investor demand, the issuance of both the EUR and USD Term Loans was upsized from an initial €500.0 million and USD 750 million, resulting in tightened pricing compared to initial indicative pricing levels of EURIBOR +3.25-3.50% at 99.75% and LIBOR +3.00-3.25% at 99.50%.


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About Telenet SA

As a provider of entertainment and telecommunication services in Belgium, Telenet group is always looking for the perfect experience in the digital world for its customers. Under the brand name Telenet, the company focuses on offering digital television, high-speed Internet and fixed and mobile telephony services to residential customers in Flanders and Brussels.

Under the brand name BASE, it supplies mobile telephony, internet and television in Belgium. The Telenet Business department serves the business market in Belgium and Luxembourg with connectivity, hosting and security solutions. More than 3,000 employees have one aim in mind: making living and working easier and more pleasant.

Telenet group is part of Telenet Group Holding NV and is a 100% owned subsidiary of Liberty Global. Liberty Global is one of the world’s leading converged video, broadband and communications companies, innovating and empowering people in six countries across Europe to make the most of the digital revolution. For more information, we refer to www.telenet.be

The Telenet newsroom can be found at press.telenet.be

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