THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT
FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY,
IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA,
CANADA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION
OR DISTRIBUTION IS UNLAWFUL.
3 March 2025
Zegona Communications
plc
Successful debt
repricing
125bps margin reduction across €1.29bn of term
loans
Zegona Communications plc (LSE: ZEG)
("Zegona") is pleased to
announce that its subsidiary Zegona HoldCo Limited has successfully
completed the repricing of its €920m EUR Term Loan B Facility (the
"Term Loan") due 2029 and has increased its EUR Term Loan B
Facility by €370m to a total EUR Term Loan B Facility of
€1.29bn.
The repricing reduces our interest
rate margin under the Term Loan by 125 basis points, from 4.25%
p.a. to 3.00% p.a. The upsizing allows for the repayment of the USD
Term Loan B of $400m (€370m), effectively reducing the interest
rate margin on this facility from 4.25% p.a. to 3.00% p.a.
The total outstanding debt and other key terms remain
substantially unchanged.1
This repricing demonstrates the
strength of Zegona's strategy and execution since the acquisition
of Vodafone Spain, which has earned credit investor support and
allowed the company to significantly reduce the cost of its debt in
less than a year.
For
further information contact:
Jos Simson / Katie Hopkins / Ruairi
Millar
Tavistock
Tel: 020 7920 3150
Zegona@tavistock.co.uk
About
Zegona
Zegona was established in 2015 with
the objective of investing in businesses in the European
Telecommunications, Media and Technology sector and improving their
performance to deliver attractive shareholder returns. Zegona is
led by former Virgin Media executives Eamonn O'Hare and Robert
Samuelson.
On 31 May
2024, Zegona completed the 100% acquisition of Vodafone Spain for
€5.0 billion.
About Vodafone
Spain
Vodafone Spain is a national
provider of fixed, mobile and TV services in Spain, serving
consumer, business and public administration customers. It was
acquired by Zegona in May 2024.
1 As customary in repricing
transactions, we are resetting the "soft non-call" for another six
months which means we cannot reprice within six months. There are
no changes impacting prepayment.
