Telenet launches exchange offer for certain term loans

Today, Telenet NV announced that it has launched a voluntary exchange process for certain term loans under its €2,300 million senior credit facility. Existing lenders in term loans A, B, D and E will have the opportunity to exchange their existing participations and commitments with participations and commitments in a new tranche with an extended maturity on June, 2017 at improved economics.

With this exchange process, the Company seeks to extend the average maturity of its term debt by approximately 2.7 years, assuming a full exchange of the offered participations. The extension offer will close on July 28, 2010.

This leverage-neutral transaction will further improve stability of Telenet's debt capitalization by providing additional cash flow flexibility to the business with almost no debt amortizations until mid-2017.

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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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