TDC readies launch of €1.9 billion term loan B for Tuesday

By Sara Rosenberg

New York, Nov. 19 – TDC A/S is set to hold a lender call on Tuesday to launch a €1.9 billion covenant-light term loan B (Ba3/BB-/BB) due June 2025, according to a market source.

Barclays and HSBC are the bookrunners on the deal. Barclays is the agent.

The term loan has 101 soft call protection for six months, the source said.

Proceeds will be used to reprice an existing term loan B.

Commitments are due at 7 a.m. ET on Nov. 28, the source added.

TDC is a Copenhagen-based telecom services provider.

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