Telenet successfully extends the maturity and increases the commitments of its revolving credit facility, further strengthening its liquidity profile

Telenet successfully extends the maturity and increases the commitments of its revolving credit facility, further strengthening its liquidity profile

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.

Mechelen, July 3rd, 2023 – Telenet Group Holding NV (“Telenet” or the “Company”) (Euronext Brussels: TNET) announces that its financing subsidiary Telenet International Finance S.à r.l. has extended the tenor of €480.0 million of its current revolving credit facility by three years from May 31, 2026 to May 31, 2029 and increased the total amount of this extended tranche by €90.0 million (the “Amended RCF Tranche”) with a pool of 18 leading domestic and international banks. As such, Telenet succeeded in extending and upsizing its revolving credit facilities, further strengthening its liquidity profile and the total amount of its revolving credit facility commitments are €600.0 million. 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 over €1.6 billion, including €1.0 billion of cash and cash equivalents the Company held on March 31, 2023. As such, Telenet has ample liquidity headroom to invest in, amongst others, the data network of the future with Fluvius through Telenet’s 66.8%-owned subsidiary Wyre (formerly referred to as NetCo) which will help support the Group’s growth and development.

 

Other than the extended tenor, the Amended RCF Tranche has the same characteristics as its current RCF : (i) a margin of 2.25% over EURIBOR (floored at 0%) and (ii) a commitment fee of 40% of the margin. The Amended RCF Tranche can be used for general corporate purposes, which may include acquisitions, distributions to shareholders and general working capital requirements of the Company.

Telenet’s Amended RCF Tranche is provided by Bank of America, Belfius, BNP Paribas, Crédit Agricole, Crédit Industriel et Commercial, Deutsche Bank, Goldman Sachs, ING, JP Morgan, KBC, Mitsubishi UFJ Financial Group, Morgan Stanley, NatWest, Rabobank, Royal Bank of Canada, the Bank of Nova Scotia, SMBC and Société Générale.

 

Full press release EN.pdf - 518 KB

 

 

Stefan Coenjaerts Director Corporate Communications, Telenet

 

 

 

 

About Telenet BV

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 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

Telenet BV
Liersesteenweg 4
2800 Mechelen
BTW BE 0473.416.418
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