Telenet plans €500 million in new loan borrowings for share repurchase

By Sara Rosenberg

New York, Aug. 13 - Telenet Group Holding NV plans to raise €500 million in new debt under its senior credit facility, according to a news release.

Proceeds will be used to fund a proposed share buyback through a voluntary tender offer for a maximum of about 21 million shares at a price of €35.00 per share.

Net debt to annualized EBITDA will increase to around 4.5 times.

Telenet is a Mechelen, Belgium-based provider of media and telecommunication services.

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