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 group

As a provider of entertainment and telecommunications services in Belgium and Luxembourg, Telenet group aims to offer its customers the best possible experience in the digital world. Through its Telenet, BASE and TADAAM brands, the company provides digital television, internet, and fixed and mobile telephony services to residential customers in Belgium. In the Grand Duchy of Luxembourg, Telenet group provides these services under the Eltrona brand. 

Telenet Business serves the business market in Belgium and Luxembourg with connectivity, hosting and security solutions. With more than 3,000 employees, Telenet group has one clear goal: to make living and working easier and more enjoyable. 

Telenet group is an integral part of Ziggo Group, which brings together Telenet group and VodafoneZiggo. Telenet group continues to operate under its own brands and remains responsible for its customers, employees, strategy and performance in its markets. Ziggo Group is 90% owned by Liberty Global and 10% owned by Vodafone Group. 

More information about Telenet group and its products is available on the Telenet website. The Telenet group newsroom can be found on the press website. 

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