NEW YORK & LONDON–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced that funds and accounts managed by its credit business have agreed to provide a £75 million non-recourse financing facility to TalkTalk, a leading value for money connectivity provider in the UK. The facility, which is collateralized by certain accounts receivables originated by TalkTalk and its subsidiaries, replaces a prior £75 million financing facility, which matures in September 2023.
The new facility will give TalkTalk access to additional liquidity for a term of approximately three years.
“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,” said Giacomo Picco, a Managing Director at KKR.
Demica served as advisor to TalkTalk and will act as the reporting and calculation agent for the program.
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment 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. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.
About TalkTalk Group
TalkTalk is the UK’s leading value for money connectivity provider. It believes that simple, affordable, reliable and fair connectivity should be available to everyone.
From its HQ in Salford, TalkTalk is rolling out the UK’s latest fibre technology, bringing 100% full fibre directly into homes and businesses across Britain.
+44 20 7839 9800