TalkTalk Telecom talks £300 million five-year notes to yield 5½%-5¾%; pricing Thursday

By Paul A. Harris

Portland, Ore., Jan. 11 – TalkTalk Telecom Group plc talked its £300 million offering of five-year senior notes (BB-/BB-) to yield 5½% to 5¾%, according to a market source.

Books close at 5 a.m. ET on Thursday, and the Regulation S only deal is set to price thereafter. A planned Thursday roadshow stop in Edinburgh is cancelled.

Joint bookrunner Barclays will bill and deliver. HSBC and NatWest Markets are also joint bookrunners.

The notes come with two years of call protection and feature a 101% poison put.

The London-based provider of pay television, telecommunications, internet and mobile network services plans to use the proceeds to repay its revolving credit facility.

© 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.