Telenet Finance Luxembourg II S.A. announces launch of senior secured notes offering
► Launch of 75 to 100 million Senior Secured Notes due 2016
Luxembourg, November 16, 2010 Telenet Finance Luxembourg II S.A. (the "Issuer"), an independent financing company, announces the offer of 75 to 100 million senior secured notes due 2016, with a denomination of 50,000 each (the "Notes") in a EEA private placement, principally in Belgium and Luxembourg. The issuance of the Notes is expected to close on November 26, 2010 following a bookbuilding period during which KBC Bank NV and Dexia Bank Belgium NV/SA will place the Notes.
The Issuer, which is independent from the Telenet group of companies, is proposed to lend the gross proceeds of the Notes to Telenet International Finance S.à r.l., a subsidiary of Telenet NV, under an additional tranche under the Telenet group's existing credit facility (the "Senior Credit Facility"). The Notes will be secured by a first-ranking security interest over all of the capital stock of the Issuer and a first-ranking security interest over the Issuer's rights as a lender under the Senior Credit Facility. The Notes are obligations of the Issuer alone and not of - or guaranteed in any way by Telenet Group Holding NV, Telenet NV or any of their subsidiaries or affiliates.
cfr Press Release