Telenet successfully completed the 10% repurchase of its 3.50% €600.0 million Senior Secured Fixed Rate Notes due March 2028

Brussels, April 9, 2020 – Telenet Group Holding NV (“Telenet” or the “Company”) (Euronext Brussels: TNET) announces that its financing subsidiary Telenet Finance Luxembourg Notes S.à r.l. (“TFLN”) has successfully completed the 10% repurchase of its 3.50% €600.0 million Senior Secured Fixed Rate Notes due March 2028 (the “Notes”) for an aggregate amount of €56.6 million. The Notes were repurchased at a weighted average price of 94.375% over the period March 12, 2020 up to April 7, 2020 through an independent financial intermediary, who repurchased such Notes on TFLN’s behalf. The transaction was settled on April 9, 2020 through excess cash on the Company’s balance sheet and will further solidify the Company’s Adjusted Free Cash Flow profile.   

TFLN will now cancel the repurchased Notes in full, including the settlement of accrued interest. Through this transaction, the outstanding principal amount under the Notes decreased to €540.0 million, leading to annual cash interest savings of €2.1 million.   

Press release 20200309 Partial EUR SSN repurchase (ENG).pdf - 244 KB

 

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About Telenet Group NV/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 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 quoted on Euronext Brussel under ticker symbol TNET. For more information, visit www.telenet.be. Liberty Global - 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 – owns a direct stake of 57.9% in Telenet Group Holding SA/NV (excluding any treasury shares held by the latter from time to time).


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Telenet Group NV/SA
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