Telenet Group to repay €200 million of term loans with notes proceeds

By Sara Rosenberg

New York, Oct. 28 - Telenet Group Holding NV plans on paying down €200 million in term loans with the shortest maturities using proceeds from a €350 million senior secured notes offering, according to a news release.

Remaining proceeds from the notes will be used for general corporate purposes.

In addition, the company said that it intends to increase its net total debt ratio to approximately 3.5 times 2011 EBITDA by the end of 2011 in order to put in place a financing framework that will allow for attractive future shareholder disbursements, while maintaining flexibility to grow and invest in its business.

Telenet is a provider of cable television, high-speed internet access and mobile telephony services in Belgium.

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