Liberty Global PLC (LBTYA) filed a Form 8K - Direct or
off-Balance Sheet Financial Obligation - with the U.S Securities
and Exchange Commission on April 09, 2014.
As of December 31, 2013, Liberty Global plc indirectly owned
57.4% of Telenet Group Holding NV (Telenet). On April 9, 2014,
Telenet NV, a subsidiary of Telenet, entered into two additional
term loan facility accession agreements (the Additional Facility W
Accession Agreement and the Additional Facility Y Accession
Agreement), under the senior credit facility of Telenet (the
Telenet Credit Facility). On April 11, 2014, Telenet NV entered
into an additional revolving credit facility accession agreement
(the Additional Facility X Accession Agreement) under the Telenet
Credit Facility.
Pursuant to the Additional Facility W Accession Agreement,
certain lenders agreed to provide a new term loan facility in an
aggregate principal amount of 474.1 million ($654.7 million at the
transaction date) (Facility W). In connection with these
transactions, certain lenders under the existing Facilities Q, R or
T under the Telenet Credit Facility agreed to novate their existing
Facility Q, R or T commitments, as applicable, in an aggregate
amount of 442.8 million ($611.5 million a the transaction date), to
Telenet Luxembourg Finance Centre S.a.r.l (Telenet Luxembourg), a
subsidiary of Telenet NV, and to enter into the new Facility W. In
addition, certain new lenders agreed to provide commitments for
31.3 million ($43.2 million at the transaction date), the remaining
amount under Facility W, and to enter into the new Facility W. Once
the facility agent is satisfied that certain documentation,
including legal opinions, has been provided on behalf of the
borrower and obligors pursuant to the Additional Facility W
Accession Agreement, Facility W will be available to be drawn for a
period of 20 business days. The final maturity date for Facility W
will be June 30, 2022. Facility W will bear interest at a rate of
EURIBOR plus 3.25%.
Pursuant to the Additional Facility Y Accession Agreement,
certain lenders agreed to provide a new term loan facility in an
aggregate principal amount of 882.9 million ($1,219.2 million at
the transaction date) (Facility Y). In connection with these
transactions, certain lenders under the existing Facilities Q, R or
T under the Telenet Credit Facility agreed to novate their existing
Facility Q, R or T commitments, as applicable, in an aggregate
amount of 340.5 million ($470.2 million at the transaction date),
to Telenet Luxembourg and to enter into the new Facility Y. In
addition, certain new lenders agreed to provide commitments for
542.4 million ($749.0 million at the transaction date), the
remaining amount under Facility Y, and to enter into the new
Facility Y. Once the facility agent is satisfied that certain
documentation, including legal opinions, has been provided on
behalf of the borrower and obligors pursuant to the Additional
Facility Y Accession Agreement, Facility Y will be available to be
drawn for a period of 20 business days. The final maturity date for
Facility Y will be June 30, 2023. Facility Y will bear interest at
a rate of EURIBOR plus 3.50%.
Pursuant to the Additional Facility X Accession Agreement,
certain lenders agreed to provide a new revolving loan facility in
an aggregate principal amount of 286.0 million ($397.5 million at
the transaction date) (Facility X). In connection with these
transactions, certain lenders under the existing Facility S under
the Telenet Credit Facility agreed to novate their existing
Facility S commitments, as applicable, in an aggregate amount of
120.2 million ($167.0 million at the transaction date), to Telenet
Luxembourg and to enter into the new Facility X. In addition,
certain new lenders agreed to provide commitments for 165.8 million
($230.4 million at the transaction date), the remaining amount
under Facility X, and to enter into the new Facility X. Once the
facility agent is satisfied that certain documentation, including
legal opinions, has been provided on behalf of the borrower and
obligors pursuant to the Additional Facility X Accession Agreement,
Facility X will be available to be drawn for a period of 20
business days. The final maturity date for Facility X will be June
30, 2023. Facility X will bear interest at a rate of EURIBOR plus
2.75%.
The foregoing descriptions of the W Accession Agreement, the Y
Accession Agreement and the X Accession Agreement and the
transactions contemplated thereby are not complete and are subject
to and qualified in their entirety by reference to the W Accession
Agreement, the Y Accession Agreement and the X Accession Agreement,
copies of which are attached hereto as Exhibits 4.1, 4.2 and 4.3,
respectively, and the terms of which are incorporated herein by
reference.
The full text of this SEC filing can be retrieved at:
http://www.sec.gov/Archives/edgar/data/1570585/000157058514000072/a8-kapril152014telenetaddl.htm
Any exhibits and associated documents for this SEC filing can be
retrieved at:
http://www.sec.gov/Archives/edgar/data/1570585/000157058514000072/0001570585-14-000072-index.htm
Public companies must file a Form 8-K, or current report, with
the SEC generally within four days of any event that could
materially affect a company's financial position or the value of
its shares.
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