In an update to its earlier announced refinancing deal, TalkTalk confirmed that 100% of its RCF debtholders and more than 97% of its bondholders have entered the binding Lock-Up Agreement — supporting the deal.
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“The company thanks creditors and stakeholders for their ongoing support and looks forward to closing the transaction in the coming months,” TalkTalk said in a statement.
The company has been in financial difficulties for some time and was in a race against time to secure funds as its debts mature in November 2024 and February 2025.
The company had reached a deal with lenders in August to push back its debts, in return for a substantial cash injection.
Having now secured the support of the vast majority of lenders, TalkTalk has until September 2027 to get back on track — or potentially find a buyer.
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