Liberty Global plc (NASDAQ:LBTYA) Files An 8-K Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

0

Liberty Global plc (NASDAQ:LBTYA) Files An 8-K Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

Item 2.03. Creation of a Direct Financial Obligation or an
Obligation under an Off-Balance Sheet Arrangement of a
Registrant.

On April 4, 2017, Telenet International Finance S..r.l. (the
Facility AH Borrower) and Telenet Financing USD LLC (the Facility
AI Borrower), a wholly-owned subsidiary of the Facility AH
Borrower, entered into the financing arrangements described below
by way of additional facilities drawn under the Credit Agreement
originally dated August 1, 2007, as amended from time to time,
between, amongst others, Telenet BVBA as original borrower and
The Bank of Nova Scotia as facility agent (the Credit Agreement).
The Facility AH Borrower is a direct subsidiary of Telenet BVBA,
and Telenet BVBA is an indirect subsidiary of Liberty Global plc.
Description of Financings:
On April 4, 2017, the Facility AH Borrower, among others, and The
Bank of Nova Scotia as facility agent entered into a 1,330.0
million ($1,419.6 million at the April 4, 2017 exchange rate)
additional facility accession agreement (the AH Accession
Agreement) to the Credit Agreement. Under the terms of the AH
Accession Agreement, certain lenders agreed to provide a 1,330.0
million ($1,419.6 million at the April 4, 2017 exchange rate)
term loan facility (Facility AH) to the Facility AH Borrower. The
final maturity date for Facility AH is March 31, 2026. Facility
AH bears interest at a rate of EURIBOR plus 3.00% subject to a
EURIBOR floor of 0.00%. Facility AH can be used by the Facility
AH Borrower for general corporate purposes and/or working capital
purposes, including the refinancing, repayment or prepayment of
existing indebtedness of any member of the Telenet group
including the payment of fees and expenses in connection with the
refinancing.
On April 4, 2017, the Facility AI Borrower, among others, and The
Bank of Nova Scotia as facility agent entered into a $1,800.0
million additional facility accession agreement (the AI Accession
Agreement) to the Credit Agreement. Under the terms of the AI
Accession Agreement, certain lenders agreed to provide a $1,800.0
million term loan facility (Facility AI) to the Facility AI
Borrower. The final maturity date for Facility AI is June 30,
2025. Facility AI bears interest at a rate of LIBOR plus 2.75%
subject to a LIBOR floor of 0.00%. Facility AI can be used by the
Facility AI Borrower for general corporate purposes and/or
working capital purposes including the refinancing, repayment or
prepayment of existing indebtedness of any member of the Telenet
group including the payment of fees and expenses in connection
with the refinancing.
The advances made under Facility AH will be issued with an
original issue discount fee such that they are issued at a price
of 99.75% of the principal amount of each Facility AI advance on
the relevant utilization date. The advances made under Facility
AI will be issued with an original issue discount fee such that
they are issued at a price of 99.75% of the principal amount of
each Facility AI advance on the relevant utilization date. The
net proceeds of such advances under Facility AH and Facility AI
will be used to prepay in full (i) the 1,600.0 million ($1,707.8
million at the April 4, 2017 exchange rate) outstanding amount
under Telenet Facility AE and (ii) the $1,500.0 million
outstanding amount under Telenet Facility AF.
The AH Accession Agreement and the AI Accession Agreement provide
that the lenders under Facility AH and Facility AI consent to the
amendments to the covenants and other provisions of the Credit
Agreement and the Finance Documents (as defined in the Credit
Agreement) outlined in the AH Accession Agreement and the AI
Accession Agreement (including in the schedules thereto). Once
the consent of the requisite lenders is obtained under the Credit
Agreement, such amendments may be implemented at the election of
Telenet BVBA.
The foregoing descriptions of (i) Facility AH and the
transactions contemplated thereby are not complete and are
subject to and qualified in their entirety by reference to the AH
Accession Agreement, a copy of which is attached hereto at
Exhibit 4.1, and (ii) Facility AI and the transactions
contemplated thereby are not complete and are subject to and
qualified in their entirety by reference to the AI Accession
Agreement, a copy of which is attached hereto at Exhibit 4.2.
Item 9.01. Financial Statements and Exhibits.
d) Exhibits.
Exhibit No.
Name
4.1
Telenet Additional Facility AH Accession Agreement
dated April 4, 2017 and entered into between, among
others, Telenet International Finance S..r.l. and The
Bank of Nova Scotia
4.2
Telenet Additional Facility AI Accession Agreement
dated April 4, 2017 and entered into between, among
others, Telenet Financing USD LLC and The Bank of Nova
Scotia


Liberty Global plc (NASDAQ:LBTYA) Recent Trading Information

Liberty Global plc (NASDAQ:LBTYA) closed its last trading session down -0.32 at 35.01 with 1,504,524 shares trading hands.