Telenet talks $850 million term loan with Libor plus 375-400 bps spread at 99, investor call Tuesday

By Paul A. Harris

Portland, Ore., May 2 – Telenet talked an $850 million eight-year term loan B with a 375 to 400 basis points spread to Libor at 99, a market source said on Monday.

The spread would float atop a 0.75% Libor floor.

The loan comes with six months of soft call protection at 101.

An investor call is set to take place at 10 a.m. ET on Tuesday.

Commitments are due at noon ET on Friday.

Goldman Sachs & Co. and BNP Paribas are the physical bookrunners. SG CIB, ING and Scotia Capital are the joint bookrunners.

The Mechelen, Belgium-based cable operator plans to use the proceeds to refinance its €300 million of senior secured notes due 2021 and €400 million of senior secured floating-rate notes due 2021.

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