KKR Provides £75 million Financing Facility to TalkTalk
September 08 2023 - 4:00AM
Business Wire
KKR, a leading global investment firm, today announced that
funds and accounts managed by its credit business have agreed to
provide a £75 million non-recourse financing facility to TalkTalk,
a leading value for money connectivity provider in the UK. The
facility, which is collateralized by certain accounts receivables
originated by TalkTalk and its subsidiaries, replaces a prior £75
million financing facility, which matures in September 2023.
The new facility will give TalkTalk access to additional
liquidity for a term of approximately three years.
“We are pleased to use our experience in receivable financing
globally to support TalkTalk with capital that will help the
company continue to grow and connect consumers and businesses
across the United Kingdom,” said Giacomo Picco, a Managing Director
at KKR.
Demica served as advisor to TalkTalk and will act as the
reporting and calculation agent for the program.
About KKR
KKR is a leading global investment firm that offers alternative
asset management as well as capital markets and insurance
solutions. KKR aims to generate attractive investment returns by
following a patient and disciplined investment approach, employing
world-class people, and supporting growth in its portfolio
companies and communities. KKR sponsors investment funds that
invest in private equity, credit and real assets and has strategic
partners that manage hedge funds. KKR’s insurance subsidiaries
offer retirement, life and reinsurance products under the
management of Global Atlantic Financial Group. References to KKR’s
investments may include the activities of its sponsored funds and
insurance subsidiaries. For additional information about KKR &
Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com.
For additional information about Global Atlantic Financial Group,
please visit Global Atlantic Financial Group’s website at
www.globalatlantic.com.
About TalkTalk Group
TalkTalk is the UK’s leading value for money connectivity
provider. It believes that simple, affordable, reliable and fair
connectivity should be available to everyone.
From its HQ in Salford, TalkTalk is rolling out the UK's latest
fibre technology, bringing 100% full fibre directly into homes and
businesses across Britain.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230908710262/en/
KKR Americas: Julia Kosygina +1
212-750-8300 Media@kkr.com
KKR EMEA: Annabel Arthur +44 20
7839 9800 kkrpr-uk@kkr.com
KKR (NYSE:KKR)
Historical Stock Chart
From Aug 2024 to Sep 2024
KKR (NYSE:KKR)
Historical Stock Chart
From Sep 2023 to Sep 2024