Belgian cable operator Telenet announced the offer of E350m worth of senior secured notes due 2020 though a private placement.
Credit Suisse is bookrunner of the issue, while BNP Paribas is joint bookrunner.
The proceeds will be used to repay E200m of…
Belgian cable operator Telenet announced the offer of E350m worth of senior secured notes due 2020 though a private placement.
Credit Suisse is bookrunner of the issue, while BNP Paribas is joint bookrunner.
The proceeds will be used to repay E200m of debt loans with the shortest maturities under the company’s senior credit facility and for general corporate purposes.
The company said the issue was part of its plan to increase net total debt ratio to about 3.5 times 2011 EBITDA by the end of next year. On September 30, it stood at 2.8 times EBITDA.
Moody’s assigned a Ba3 rating to the notes.
