TDC: Use of Get disposal proceeds
With reference to announcement of 15 October 2018 (Divestment of Get AS completed), TDC announces that a substantial part of the proceeds from TDC's sale of Get will be applied towards prepayment at par of TLB under TDC's senior secured credit facilities. TDC expects to prepay TLB (including all of the USD denominated tranche of the TLB) during Q4 2018 by approx. DKK 15bn (equivalent), thereby reducing total reported net leverage at the TDC level to just below 3.0x.
We are reviewing our current capital structure and the governing documents related to the outstanding debt of TDC and our indirect parent company, DKT Finance, along with applicable law, including the Danish Companies Act, and we will apply the remaining proceeds of approx. DKK 2bn (equivalent) in accordance with the terms thereof. We expect to make a final determination of the application of such proceeds during Q4 2018 or Q1 2019.
Any sales proceeds not applied towards debt reductions at the level of TDC or DKT Finance may be applied for reinvestment in TDC Group's Danish activities and other general corporate purposes.
For inquiries regarding the above please contact TDC Group Investor Relations, on +45 6663 7680 or firstname.lastname@example.org.