REG - Zegona Comms. - Successful debt repricing

Zegona CommunicationsAnnouncement

03/03/2025 07:15

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RNS Number : 0102Z  Zegona Communications PLC  03 March 2025

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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 (mailto: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.

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