TalkTalk Telecom Group PLC today announces an offering (the “Offering”) of £300 million senior notes due 2022 (the “Notes”).
The proceeds of the Offering will be used to repay certain existing facilities and to pay the fees and expenses incurred in connection with the Offering.
The transaction is expected to strengthen the Company’s financial position by extending the Company’s debt maturity profile and diversifying its funding sources, and is consistent with the Company’s approach of reducing leverage to a target of 2x net debt / EBITDA.
There will be no public offering of the Notes. The Notes are being offered and sold in offshore transactions outside the United States in compliance with Regulation S under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”).
The Notes may not be offered, sold or delivered within the United States (as defined in Regulation S under the U.S. Securities Act), except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act.
At 9:10am: (LON:TALK) TalkTalk Telecom Group PLC share price was -1.35p at 171.45p
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