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Telenet tightens pricing for $301 million add-on to term loan B
New York, Feb. 28 – Telenet removed the original issue discount on its $301 million fungible add-on to its term loan B due March 2026, according to a market source.
The loan, designated term loan AL2, is now priced at par instead of 99.75 originally.
As before, it has a coupon of Libor plus 250 basis points with a 0% Libor floor, matching the existing loan.
Proceeds will be used to refinance the company’s senior secured notes due 2024.
Goldman Sachs, BNP Paribas, Scotia and Societe Generale are lead arrangers with Goldman on the left.
Recommitments are due by 5 p.m. ET on Feb. 28 or by 7 a.m. ET on March 1 in London.
Telenet is a Mechelen, Belgium-based provider of cable broadband services.
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