Telenet Group Holding successfully issued and priced an additional $475 million term loan, as wells as a €205 million term loan ($231.946 million).
Goldman Sachs acted as mandated lead arranger and global coordinator on both facilities. Deutsche Bank, ING, Rabobank, Société Générale and The Bank of Nova Scotia acted as mandated lead arrangers and joint bookrunners.
Under the U.S. dollar facility, Telenet Financing USD will be the borrowing entity. The facility will carry the same characteristics as the company’s initial USD facility, which was issued on May 24, 2018. This includes a margin of 2.25% over LIBOR, a 0% LIBOR floor and a maturity date of August 15, 2026. The facility was issued at 98.5%.
Under the euro facility, Telenet International Finance will be the borrowing entity. This facility will also carry the same characteristics as the initial euro facility, which was issued on May 25, 2018. This includes a margin of 2.50% over EURIBOR, a 0% EURIBOR floor and a maturity date of December 15, 2027. The facility was issued at 98.0%.
Telenet Financing USD intends to on-lend the net proceeds of the issuance to Telenet International Finance, which will use them, along with existing cash, to contribute towards shareholder distributions and other general corporate purposes.
Telenet provides entertainment and telecommunication services in Belgium and focuses on offering digital television, high-speed Internet and fixed and mobile telephony services to residential customers.
