{
    "title": "Telenet launches exchange offer for certain term loans",
    "modified_at": "2010-07-19 20:10:53",
    "published_at": "2010-07-19 20:10:53",
    "url": "https://press.telenet.be/telenet-launches-exchange-offer-for-certain-term-loans",
    "short_url": "http://prez.ly/nyy",
    "culture": "en",
    "language": "EN",
    "slug": "telenet-launches-exchange-offer-for-certain-term-loans",
    "body": "<p align=\"justify\" class=\"hugin\" style=\"margin-top: 0cm; margin-right: 0cm; margin-bottom: 0pt; margin-left: 0cm\"><b class=\"hugin\"></b>Today, Telenet NV announced that it has launched a voluntary exchange process for certain term loans under its \u00802,300 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. </p> <p align=\"justify\" class=\"hugin\" style=\"margin-top: 0cm; margin-right: 0cm; margin-bottom: 0pt; margin-left: 0cm\"> </p> <p align=\"justify\" class=\"hugin\" style=\"margin-top: 0cm; margin-right: 0cm; margin-bottom: 0pt; margin-left: 0cm\">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.</p> <p align=\"justify\" class=\"hugin\" style=\"margin-top: 0cm; margin-right: 0cm; margin-bottom: 0pt; margin-left: 0cm\"> </p> <p align=\"justify\" class=\"hugin\" style=\"margin-top: 0cm; margin-right: 0cm; margin-bottom: 0pt; margin-left: 0cm\">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. </p> <p align=\"justify\" class=\"hugin\" style=\"margin-top: 0cm; margin-right: 0cm; margin-bottom: 0pt; margin-left: 0cm\"> </p> <p align=\"justify\" class=\"hugin\" style=\"margin-top: 0cm; margin-right: 0cm; margin-bottom: 0pt; margin-left: 0cm\">Cfr Press Release</p>",
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    "tags": [
        "French",
        "Investor Relations",
        "1",
        "English",
        "ImportH"
    ],
    "author": {
        "first_name": "Isabelle",
        "last_name": "Geeraerts"
    },
    "format_version": 1
}