Telenet Finance Luxembourg S.C.A. announces completion of senior secured notes placement
► Senior Secured Notes due 2020 upsized to 500 million from 350 million initial offering
► Interest of 6.375%
Luxembourg, October 29, 2010 Telenet Finance Luxembourg S.C.A. (the "Issuer"), an independent financing company, announces that it has completed the pricing of 500 million Senior Secured Notes due 2020 (the "Notes"). The Notes will bear interest at 6.375%. As a result of high demand for these Notes, the Issuer decided to upsize the offer to 500 million from the initial 350 million.
The Issuer, who is independent from the Telenet group of companies, will lend the gross proceeds of the Notes to Telenet International Finance S.A., 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 firstranking security interest over all of the capital stock and bank account 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.
Press release in attachment.
