TDC prepays €1.85 billion equivalent of term loan with sale proceeds

By Sarah Lizee

Olympia, Wash., Nov. 12 – TDC A/S prepaid €1.85 billion equivalent of its term loan B facility using proceeds from the sale of its shares in Get AS and its subsidiaries, according to a press release.

Specifically, TDC fully prepaid $1,415,000,000 on the dollar tranche of the term loan B and partially prepaid €650 million on the euro-denominated tranche.

The company said it expects to further prepay €150 million of the facility in the fourth quarter.

Remaining proceeds from the sale are being used for parent DKT Finance’s tender offer for €271 million equivalent of 7% notes and 9 3/8% notes.

TDC is a Copenhagen-based provider of communications and entertainment solutions in Denmark.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.