KKR, a renowned global investment firm, announced on Friday that its credit business, responsible for managing funds and accounts, has agreed to provide a £75M (approximately €87M) non-recourse financing facility to TalkTalk.
TalkTalk is a value for money connectivity provider in the UK that believes in simple, affordable, reliable and fair connectivity to everyone. From its HQ in Salford, TalkTalk is rolling out the UK’s latest fibre technology, bringing 100 per cent full fibre directly into homes and businesses across Britain.
The facility is backed by accounts receivables from TalkTalk and subsidiaries, replacing a £75M facility maturing in 2023. The new facility will give TalkTalk additional liquidity for approximately three years.
Advisory firm Demica served as TalkTalk’s advisor. It will also serve as the reporting and calculation agent for the programme, ensuring smooth execution and management of the financing facility.- Partner content –
KKR: global investment firm
KKR is a global investment firm that offers alternative asset management as well as capital markets and insurance solutions.
The investment firm sponsors funds that invest in private equity, credit and real assets, and has strategic partners that manage hedge funds.
KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group.
“We are pleased to use our experience in receivable financing globally to support TalkTalk with capital that will help the company continue to grow and connect consumers and businesses across the United Kingdom,” says Giacomo Picco, Managing Director at KKR.
Source : SiliconCanals
