{
    "title": "Press Release Telenet : Successful issuance and pricing of a new \u00801.6 billion and a USD 1.5 billion Term Loan due 2025",
    "modified_at": "2016-11-03 19:30:00",
    "published_at": "2016-11-03 19:30:00",
    "url": "https://press.telenet.be/press-release-telenet--successful-issuance-and-pricing-of-a-new-16-billion-and-a-usd-15-billion-term-loan-due-2025",
    "short_url": "http://prez.ly/jky",
    "culture": "en",
    "language": "EN",
    "slug": "press-release-telenet--successful-issuance-and-pricing-of-a-new-16-billion-and-a-usd-15-billion-term-loan-due-2025",
    "body": "<ul class=\"hugin\" type=\"disc\"> <li class=\"hugin\"> <div class=\"hugin\"><b class=\"hugin\">Successful issuance and pricing of a new 8-year \u00801.6 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 \u0080 and USD tranches and achieved pricing at the tight end of the guidance range </b></div> </li> <li class=\"hugin\"> <div class=\"hugin\"><b class=\"hugin\">The new \u0080 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%</b></div> </li> <li class=\"hugin\"> <div class=\"hugin\"><b class=\"hugin\">Net proceeds of these issuances will be used to prepay all outstanding amounts under the \u00802.2 billion Term Loans due 2022-2023 and the USD 850.0 million Term Loan due 2024</b></div> </li> <li class=\"hugin\"> <div class=\"hugin\"><b class=\"hugin\">Tenor extension of the undrawn \u0080381.0 million revolving credit facility from September 2020 to June 2023 at same term and conditions ongoing</b></div> </li> <li class=\"hugin\"> <div class=\"hugin\"><b class=\"hugin\">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</b></div> </li> </ul> <p align=\"justify\" class=\"hugin\"> </p> <p align=\"justify\" class=\"hugin\"><strong class=\"hugin\"></strong> - Today, Telenet Group Holding NV (\"Telenet\" or the \"Company\") announced the successful issuance and pricing of a \u00801.6 billion Term Loan (\"<strong class=\"hugin\">Facility AE</strong>\") and a USD 1.5 billion Term Loan (\"<strong class=\"hugin\">Facility AF</strong>\"), 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 \u0080500.0 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%.</p> <br class=\"hugin\" /> <p align=\"justify\" class=\"hugin\"><b class=\"hugin\"><b class=\"hugin\">Cfr Press Release</b></b></p>",
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            "description": "Press Release",
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    "tags": [
        "English",
        "1",
        "Regulatory",
        "ImportH"
    ],
    "author": {
        "first_name": "Isabelle",
        "last_name": "Geeraerts"
    },
    "format_version": 1
}