TalkTalk UK founder Sir Charles Dunstone secures £400m debt refinancing deal to prevent default, extending debt maturity to 2027.

TalkTalk UK founder Sir Charles Dunstone reached a £400m debt refinancing deal with lenders to prevent a potential debt default. The deal includes an immediate £65m injection, followed by £170m, along with contributions from assets like Virtual1 subsidiary and Ovo and Shell customer bases. In exchange, TalkTalk's bank lenders and bondholders extend debt maturity dates to autumn 2027, providing crucial time for the company, which serves 4 million UK broadband customers, to execute business plans for PlatformX wholesale network and consumer business.

August 12, 2024
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