Telenet talks upsized €500 million 10-year notes with 6½% area yield

By Paul A. Harris

St. Louis, Oct. 28 - Belgium's Telenet NV talked an upsized €500 million offering of 10-year senior secured notes (Ba3) with a 6½% area yield on Thursday, according to a market source.

The deal, which was upsized from €350 million, is set to price on Friday.

BNP Paribas and Credit Suisse are the joint bookrunners for the quick-to-market Rule 144A and Regulation S offering.

The issuing entity, Telenet Finance Luxembourg S.C.A., an independent financing company, will lend the proceeds to Telenet International Finance SA, a subsidiary of Telenet NV.

The proceeds will be used to repay bank debt and for general corporate purposes.

Telenet NV is a provider of cable television, high-speed internet and mobile telephone services.

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