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Telenet calls 6 5/8% notes due 2021, floating-rate notes due 2021
New York, May 17 – Telenet announced that it will redeem the €300 million of 6 5/8% senior secured notes due 2021 issued by Telenet Finance III Luxembourg SCA and the €400 million of floating-rate senior secured notes due 2021 issued by Telenet Finance IV Luxembourg SCA.
The 6 5/8% notes will be redeemed at a price of 103.313% of par plus accrued interest up to the redemption date of June 15, according to a notice.
The floating-rate notes will be redeemed at par plus accrued interest up to the redemption rate, which will also by June 15.
Earlier in the month Telenet completed a new $850 million eight-year senior secured term loan B, which was priced at Libor plus 350 basis points with an original issue discount of 99.5.
Proceeds from the loan will be used to fund the note redemptions.
Telenet is a Mechelen, Belgium-based provider of media and telecommunication services.
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