TDC reveals talk on €1.9 billion term loan B repricing

By Sara Rosenberg

New York, Nov. 20 – TDC A/S launched on Tuesday the repricing of its €1.9 billion covenant-light term loan B (Ba3/BB-/BB) due June 2025 with talk of a 25 basis points reduction to the existing margin grid, a 0% floor and an original issue discount of 99.75, according to a market source.

The repriced term loan is getting 101 soft call protection for six months.

Barclays and HSBC are the bookrunners on the deal. Barclays is the agent.

Commitments are due at 7 a.m. ET on Nov. 28.

TDC is a Copenhagen-based telecom services provider.

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