Telenet has announced a new debt issuance of €175m under an existing senior credit facility.
The Brussels-based cable operator said in a statement subsidiary Telenet International Finance will issue a new floating rate term loan facility under a…
Telenet has announced a new debt issuance of €175m under an existing senior credit facility.
The Brussels-based cable operator said in a statement subsidiary Telenet International Finance will issue a new floating rate term loan facility under a credit facility which matures on 31 December 2018 at a 3.5% margin over Euribor.
BNP Paribas is acting as sole bookrunner on the transaction.
Telenet, which is listed on the Euronext Brussels Stock Exchange, said it plans to use the proceeds of the new debt issuance for general corporate purposes.
Telenet said it had a net total debt ratio of 3.3x EBITDA as of 30 September 2011 and its debt tenor reached 8.2 years.
Moody’s has assigned Telenet’s debt a Ba3 rating, while Fitch has rated it BB+.
