Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Companies  >  All News

News : Companies
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors

TDC: Repricing of EUR Term Loan B

share with twitter share with LinkedIn share with facebook
share via e-mail
0
12/07/2018 | 06:19am EDT

TDC hereby announces that the company has successfully completed a repricing of its outstanding EUR term loan B facility (the "TLB").

The TLB was repriced to reduce the margin by 25bps across the margin grid providing approximately €5 million per annum in interest savings. Further, the 9-month margin ratchet holiday due to expire in March 2019 was removed with immediate effect. As a result, the TLB now bears interest at EURIBOR plus 2.75% p.a., which represents an immediate reduction of 75bps.

The TLB was repriced at a price of 99.75%.

TDC has further, as previously anticipated, prepaid an aggregate principal amount of EUR 150m outstanding under the TLB, thereby reducing the outstanding principal amount to EUR 1,900m. This prepayment was made with part of the proceeds from TDC's sale of its Norwegian business and completes the TLB prepayment process previously announced (see Announcement 67/2018 (Use of Get disposal proceeds - Supplemental Disclosure)).

In connection with the repricing, TDC also successfully obtained the consent of the requisite lenders to certain technical amendments to the existing senior secured facilities agreement.
The technical amendments include, among other things, increased flexibility for TDC to potentially implement a separation of TDC's infrastructure activities and customer-focused activities in separate legal entities (NetCo and OpCo) whereby NetCo and OpCo would become wholly-owned subsidiaries of the current TDC.

Apart from the technical amendments, all other provisions of the existing senior secured facilities agreement remain unchanged.

For inquiries regarding the above please contact TDC Group Investor Relations, on +45 6663 7680 or investorrelations@tdc.dk.

 

Attachment

logo.gif


© GlobeNewswire 2018
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Companies"
01:32aJP MORGAN CHASE MPANY : Why Turkey's Debt Crisis Is A Bigger Risk To The Eurozone Than The PIGS – Analysis
AQ
01:31aMARRIOTT INTERNATIONAL : rolls out ‘Iftar for Cabs' for the tenth year
AQ
01:31aPANORO ENERGY : Announces First Quarter 2019 Results and Provides Operations and Corporate Updates
AQ
01:31aVEIDEKKE ASA : Jimmy Bengtsson appointed CEO
AQ
01:31aCLEANTECH INVEST OYJ : Loudspring Oyj appoints Jarkko Joki-Tokola as new Managing Director and Matti Vuoria as Chairman of the Board
AQ
01:31aWYNDHAM HOTELS & RESORTS : What is fuelling Wyndham Hotels regional midscale growth?
AQ
01:31aBW OFFSHORE : Planned listing of BW Energy
AQ
01:31aBW OFFSHORE : First quarter results 2019
AQ
01:31aNOTIFICATION IN ACCORDANCE WITH THE FINNISH SECURITIES MARKET ACT CHAPTER 9 § 5 : BlackRock, Inc.'s holding in Wärtsilä Corporation
AQ
01:31aGENSIGHT BIOLOGICS : to Host KOL Breakfast on May 23, 2019 in New York
BU
Latest news "Companies"
Advertisement