13th Feb 2020 17:53
(Alliance News) - TalkTalk Telecom Group PLC said Thursday it has priced its offering of GBP575 million in senior notes due 2025 at 3.875%.
The offer was upsized from the previous aggregate principal amount of GBP500 million, due to being oversubscribed, and is expected to close on Thursday next week.
Proceeds from the offering will go towards redeeming the the entire aggregate principal amount of its outstanding GBP400 million senior notes due 2022, as well as repaying certain amounts under its revolving credit facility agreement.
Overall, the notes offering is expected to strengthen TalkTalk's financial position by extending its debt maturity profile and increase its available capacity.
Shares in TalkTalk Telecom closed 0.8% lower at 114.40 pence on Thursday in London.
By Dayo Laniyan; [email protected]
Copyright 2020 Alliance News Limited. All Rights Reserved.
Related Shares:
TALK.L