Belgium-Based Telenet's Proposed Euro And U.S. Dollar Term Loans Rated 'B+' - S&P Global Ratings’ Credit Research

Belgium-Based Telenet's Proposed Euro And U.S. Dollar Term Loans Rated 'B+'

Belgium-Based Telenet's Proposed Euro And U.S. Dollar Term Loans Rated 'B+' - S&P Global Ratings’ Credit Research
Belgium-Based Telenet's Proposed Euro And U.S. Dollar Term Loans Rated 'B+'
Published Oct 28, 2016
4 pages (1579 words) — Published Oct 28, 2016
Price US$ 150.00  |  Buy this Report Now

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Abstract:

FRANKFURT (S&P Global Ratings) Oct. 28, 2016--S&P Global Ratings said today that it has assigned its 'B+' issue ratings to the proposed €500 million term loan AE to be borrowed by Telenet International Finance S.a.r.l. and the proposed $750 million term loan AF to be borrowed by Telenet Financing USD LLC. The recovery rating on the proposed term loans is '3', indicating our expectation of recovery prospects in the lower half of the 50%-70% range. Telenet Group Holding N. V. (Telenet; B+/Stable/--), Belgian provider of telecommunications and cable TV services, intends to use the proceeds of these loans to partially repay its existing term loans. In addition, we affirmed our 'B+' issue ratings on Telenet's existing senior secured term loans

  
Brief Excerpt:

...FRANKFURT (S&P Global Ratings) Oct. 28, 2016--S&P Global Ratings said today that it has assigned its 'B+' issue ratings to the proposed 500 million term loan AE to be borrowed by Telenet International Finance S.a.r.l. and the proposed $750 million term loan AF to be borrowed by Telenet Financing USD LLC. The recovery rating on the proposed term loans is '3', indicating our expectation of recovery prospects in the lower half of the 50%-70% range. Telenet Group Holding N. V. (Telenet; B+/Stable/--), Belgian provider of telecommunications and cable TV services, intends to use the proceeds of these loans to partially repay its existing term loans. In addition, we affirmed our 'B+' issue ratings on Telenet's existing senior secured term loans and the senior secured notes issued by special-purpose vehicles. The recovery rating on this debt is '3', indicating our expectation of recovery prospects in the lower half of the 50%-70% range. In our view, the recovery prospects on Telenet's debt instruments...

  
Report Type:

Ratings Action

Ticker
TNET@BB
Issuer
Telenet Group Holding N.V.
Sector
Global Issuers
Country
Belgium
Region
United States
Format:
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MLA:
S&P Global Ratings’ Credit Research. "Belgium-Based Telenet's Proposed Euro And U.S. Dollar Term Loans Rated 'B+'" Oct 28, 2016. Alacra Store. May 03, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Belgium-Based-Telenet-s-Proposed-Euro-And-U-S-Dollar-Term-Loans-Rated-B-1746774>
  
APA:
S&P Global Ratings’ Credit Research. (). Belgium-Based Telenet's Proposed Euro And U.S. Dollar Term Loans Rated 'B+' Oct 28, 2016. New York, NY: Alacra Store. Retrieved May 03, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Belgium-Based-Telenet-s-Proposed-Euro-And-U-S-Dollar-Term-Loans-Rated-B-1746774>
  
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