TalkTalk Telecom Group PLC Proposed offering of £300 million Senior Notes (6463T)
January 09 2017 - 3:40AM
UK Regulatory
TIDMTALK
RNS Number : 6463T
TalkTalk Telecom Group PLC
09 January 2017
RNS Announcement
Monday, 9 January 2017
THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY, AND DOES
NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR
ISSUE, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE
FOR, ANY SECURITIES OF TALKTALK TELECOM GROUP PLC. NOT FOR
DISTRIBUTION IN OR INTO THE UNITED STATES OR OTHERWISE THAN TO
PERSONS WHOM IT CAN BE LAWFULLY DISTRIBUTED. PLEASE SEE THE
IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.
For Immediate Release
TalkTalk Telecom Group PLC ("Company")
Proposed offering of GBP300 million Senior Notes due 2022
TalkTalk Telecom Group PLC today announces an offering (the
"Offering") of GBP300 million senior notes due 2022 (the
"Notes").
The proceeds of the Offering will be used to repay certain
existing facilities and to pay the fees and expenses incurred in
connection with the Offering. The transaction is expected to
strengthen the Company's financial position by extending the
Company's debt maturity profile and diversifying its funding
sources, and is consistent with the Company's approach of reducing
leverage to a target of 2x net debt / EBITDA.
There will be no public offering of the Notes. The Notes are
being offered and sold in offshore transactions outside the United
States in compliance with Regulation S under the U.S. Securities
Act of 1933, as amended (the "U.S. Securities Act"). The Notes may
not be offered, sold or delivered within the United States (as
defined in Regulation S under the U.S. Securities Act), except
pursuant to an exemption from, or in a transaction not subject to,
the registration requirements of the U.S. Securities Act.
Important notice
This press release shall not constitute an offer of securities
for sale in the United States or any other jurisdiction. The
securities have not been, and will not be, registered under the
U.S. Securities Act or the securities laws of any state of the
United States or any other jurisdiction and the securities may not
be offered or sold within the United States except pursuant to an
exemption from, or in a transaction not subject to, the
registration requirements of the U.S. Securities Act and applicable
state or local securities laws.
This announcement is for informational purposes only and is
directed only at persons who are located outside the United States
and are (a) persons in member states of the European Economic Area
(the "EEA") who are qualified investors (as defined in EU
Prospectus Directive 2003/71/EC (as amended, including by EU
Directive 2010/73/EU to the extent implemented in the relevant
member state)); (b) persons in the United Kingdom who are qualified
investors and who are (i) investment professionals falling within
Article 19(5) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005 (the "Order"); or (ii) persons
falling within Article 49(2) (a) to (d) of the Order; or (iii)
persons to whom an invitation or inducement to engage in investment
activity (within the meaning of Section 21 of the Financial
Services and Markets Act 2000) in connection with the issue or sale
of any Notes may otherwise lawfully be communicated or caused to be
communicated (all such persons in (a) and (b) together being
referred to as "relevant persons"). This announcement must not be
acted on or relied on by persons who are not relevant persons. Any
investment or investment activity to which this announcement
relates is available only to relevant persons and will be engaged
in only with relevant persons.
Further information:
Investor Relations: Mal Patel +44 (0) 20 3417 1037
Media: Isobel Bradshaw +44 (0) 75 8470 8351
Company Secretary: Tim Morris +44 (0) 20 3417 1652
-Ends-
This information is provided by RNS
The company news service from the London Stock Exchange
END
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