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Telenet issues fresh debt

TelenetLiberty Global-owned Belgian cable operator Telenet has issued €530 million of fresh debt that will be used to repay an existing loan.

Telenet has issued €530 million 4.875% senior secured fixed rate notes due in 2027. The proceeds will be used to repay an existing €500 million bond due in 2020.

According to Telenet, the latest move represents he next step in a further optimization of Telenet’s capital structure and marks a further improvement of its debt maturity profile, following its refinancing of term loans and the prepayment of a Senior Secured Fixed Rate Notes due 2016 in April last year, the issuance of additional debt of up to €1 billion related to the acquisition of mobile operator BASE Company, and the recent upsizing of available commitments under its revolving credit facilities by a net €85 million.