Telenet launches $500 million add-on term loan AI at 99.5-99.75 OID

By Sara Rosenberg

New York, May 9 – Telenet held a lender call on Tuesday to launch a $500 million add-on term loan AI that is talked with an original issue discount of 99.5 to 99.75, according to a market source.

Pricing on the add-on loan matches existing term loan AI pricing at Libor plus 275 basis points with a 0% Libor floor, the source said.

J.P. Morgan Securities LLC, Goldman Sachs Bank USA, BNP Paribas Securities Corp. and the Bank of Nova Scotia are the leads on the deal, with Scotia the administrative agent.

Proceeds will be used to refinance existing euro senior notes due 2022.

Telenet is a Mechelen, Belgium-based cable operator.

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