Telenet gets €1.36 billion of term loans, €286 million revolver

By Angela McDaniels

Tacoma, Wash., April 15 - Telenet Group Holding NV subsidiary Telenet NV entered into three facility accession agreements under its senior credit facility on April 9, according to an 8-K filing made with the Securities and Exchange Commission by indirect 57.4% parent company Liberty Global plc.

Some of the company's lenders agreed to provide a new €474.1 million term loan (facility W), a new €882.9 million term loan (facility Y) and a new €286 million revolving loan facility (facility X).

For each loan, some lenders agreed to novate their existing commitment to Telenet Luxembourg Finance Centre Sarl, a subsidiary of Telenet NV, and to enter into the new facility, and commitments for the remaining amounts of the loans were provided by new lenders.

Once the facility agent is satisfied that certain documentation has been provided, each facility will be available to be drawn for a period of 20 business days.

Facility W

Some lenders under the existing Q, R or T facilities agreed to novate their €442.8 million of commitments and enter into facility W, and the remaining €31.3 million of commitments were provided by new lenders.

The final maturity date for facility W will be June 30, 2022, and the interest rate is Euribor plus 325 basis points.

Facility Y

Some lenders under the existing Q, R or T facilities agreed to novate their €340.5 million of commitments and enter into facility Y, and the remaining €542.4 million of commitments were provided by new lenders.

The final maturity date for facility Y will be June 30, 2023, and the interest rate is Euribor plus 350 bps.

Facility X

Some lenders under the existing facility S agreed to novate their €120.2 million of commitments and enter into facility X, and the remaining €165.8 million of commitments were provided by new lenders.

The final maturity date for facility X will be June 30, 2023, and the interest rate is Euribor plus 275 bps.

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

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