The enclosed information constitutes regulated information as defined in the Royal Decree of 14 November 2007 on the obligations of issuers of financial instruments admitted to trading on a regulated market.
Brussels, April 7, 2020 – Telenet Group Holding NV (“Telenet” or the “Company”) (Euronext Brussels: TNET) announces that its financing subsidiary Telenet International Finance S.à r.l. has entered into a new 6.2-year €510.0 million revolving credit facility (the “new RCF”). The new RCF replaces the Company’s current €460.0 million revolving credit facilities with certain availabilities up to June 2023. As such, Telenet succeeded in extending and upsizing its revolving credit facilities, further strengthening its liquidity profile. In addition, Telenet continues to have access to €45.0 million of additional liquidity under separate agreements with certain lenders, bringing the total liquidity buffer to €555.0 million on top of the €101.4 million of cash and cash equivalents the Company held on December 31, 2019.
The new RCF has the following characteristics: (i) maturity of May 31, 2026 (versus December 31, 2021 for the current €60.0 million RCF AP and June 30, 2023 for the current €400.0 million RCF AG), (ii) a margin of 2.25% over EURIBOR (floored at 0%) (versus 2.75% under RCF AG and 2.25% under the short-dated RCF AP) and (iii) a commitment fee of 40% of the margin (unchanged). The new RCF can be used for general corporate purposes, which may include acquisitions, distributions to shareholders and general working capital requirements of the Company.
Telenet’s new RCF was entered into by Bank of America, Belfius, BNP Paribas, Crédit Industriel et Commercial, Credit Suisse, Deutsche Bank, Goldman Sachs, ING, JP Morgan, KBC, Mitsubishi UFJ Financial Group, NatWest, Rabobank, Royal Bank of Canada, the Bank of Nova Scotia and Société Générale.