Telenet announces extension offer for Term Loans Q, R and T and redemption of Senior Secured Notes due 2016

  • Holders of Term Loans Q, R and T are invited to extend their maturity to June 2022 in a new €-denominated Term Loan W with minimum size of €500.0 million;
  • Telenet International Finance S.à r.l. will submit a redemption notice for the 5.30% Senior Secured Notes due 2016 (Facility N under the existing 2010 Amended Senior Credit Facility);
  • Proceeds of any new money raised to supplement non-rolled exposure will be used to repay the 5.30% Senior Secured Notes due 2016 and existing Term Loans, starting with Term Loan Q;
  • Existing Revolving Facility of €158.0 million to be refinanced.

- Telenet International Finance S.à r.l. ("Telenet International Finance"), a wholly owned subsidiary of Telenet Group Holding NV ("Telenet" or the "Company") (Euronext Brussels: TNET) and which acts as the group's financing subsidiary, announces an extension offer for Term Loans Q, R and T under its existing 2010 Amended Senior Credit Facility and the redemption of its 5.3% Senior Secured notes due 2016 (Facility N under the existing 2010 Amended Senior Credit Facility). BNP Paribas Fortis, RBS and Scotiabank have been appointed as Mandated Lead Arrangers to manage the extension.

Holders of Term Loans Q, R and T are invited to extend their maturity to June 2022 in a new €-denominated Term Loan W with a minimum size of €500.0 million. Proceeds of any new money raised to supplement non-rolled exposure will be used to repay the 5.30% Senior Secured Notes due 2016 and existing Term Loans, starting with Term Loan Q. This transaction will be leverage neutral and will further extend the average life of Telenet's debt. At the same time, Telenet International Finance seeks to extend both the tenor and the size of the €158.0 million Revolving Facility under the 2010 Amended Senior Credit Facility. Telenet's debt is rated B1 (Moody's) and B+ (S&P).

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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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