By Paul A. Harris
St. Louis, Nov. 16 - Belgium's Telenet NV placed a €100 million issue of 5.3% six-year senior secured notes on Tuesday, according to a company press release.
As a result of the high demand for the notes, the company issued at the high end of the anticipated €75 million to €100 million range, the press release stated.
KBC Bank NV and Dexia Bank Belgium NV/SA were the bookrunners for the private placement.
The proceeds will be lent to Telenet International Finance Sarl, a subsidiary of Telenet NV, under an additional tranche under Telenet Group's existing credit facility.
The notes, which will be issued by subsidiary Telenet Finance Luxembourg II SA, will be secured by a first-ranking security interest over all of the capital stock of the issuer and a first-ranking security interest over the issuer's rights as a lender under the senior credit facility.
Telenet is a Mechelen, Belgium-based telecommunications company.
| Issuer: | Telenet Finance Luxembourg II SA
|
| Amount: | €100 million (top end of the €75 million to €100 million range)
|
| Securities: | Senior secured notes
|
| Maturity: | November 2016
|
| Bookrunners: | KBC Bank NV, Dexia Bank Belgium
|
| Coupon: | 5.3%
|
| Trade date: | Nov. 16
|
| Settlement date: | Nov. 26 (expected)
|
| Placement type: | Private
|
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