TDC A/S

NOT INTENDED FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES. NOT INTENDED FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, TO ANY PERSON IN ANY JURISDICTION WHERE RELEASE, PUBLICATION OR DISTRIBUTION TO SUCH PERSON IS RESTRICTED BY ANY LAW OR REGULATION APPLICABLE IN SUCH JURISDICTION.

THIS ANNOUNCEMENT IS NOT AN OFFER TO SELL OR ISSUE OR INVITATION TO PURCHASE OR SUBSCRIBE FOR, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE FOR, ANY SECURITIES.

The DKT Holdings ApS and its subsidiaries (‘The Group’) has bonds outstanding at DKT Finance ApS for EUR 1,050m and USD 410m maturing in June 2023. The bonds were issued in conjunction with the acquisition and delisting of the TDC Group in May 2018.

The Group is initiating a refinancing of these bonds ahead of maturity through a combination of proceeds from issuance of new equity, private credit facilities as outlined below and available cash.

Nuuday recently signed a loan facility of EUR 500m and proceeds will be used to both repay debt at the holding company and to fund its transformation programme.

A new equity contribution of EUR 475m is planned, as shareholders continue to support the development of the Group and roll out fiber and 5G to enable the digitalization of Denmark.

In addition, the Group has signed a private credit facility of EUR 500m at DK Telekommunikation ApS.

The EMTN 2023 bonds at TDC Holding will be redeemed at maturity in February.

Deutsche Bank, Barclays, HSBC and SEB led the debt transaction and Bruun & Hjejle Advokatpartnerselskab acted as debt legal advisor to the Group whilst Milbank LLP acted as legal advisor to the lenders.

This notification is made by Henrik Hjortshøj-Nielsen, Head of Treasury and Investor Relations.

For investor enquiries:

phone: +45 21 29 89 91

e-mail: henhjo@tdcnet.dk 

Press contact:

Jonas Torp, phone: +45 20 18 70 38

e-mail: jonto@tdcnet.dk

Important Notice

This announcement is for information purposes only and is not an offer to sell or buy any securities. Any securities mentioned in this announcement may not be sold in the United States unless they are registered under the US Securities Act of 1933, as amended (the Securities Act) or are exempt from registration. Any securities described in this announcement have not been and will not be registered under the Securities Act, and accordingly any offer or sale of such securities may be made only in a transaction exempt from registration requirements of the Securities Act.

It may be unlawful to distribute this announcement in certain jurisdictions. This announcement is not for distribution, directly or indirectly, in or to the United States, Australia, Japan, Canada, New Zealand, South Africa, Hong Kong, Switzerland, Singapore or any other jurisdiction where such distribution would be unlawful or require registration or any other measures

Attachment

• Update on refinancing at DKT Finance ApS

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