Telecom Plus

Case Study

Telecom Plus refinances existing debt facility

Telecom Plus PLC is the UK’s only multi-service utility provider, allowing customers to bundle together a combination of energy, broadband, mobile and insurance products, helping them save on their household bills.

At a Glance

Telecom Plus was looking for a relationship-focused partner to complement its existing funding sources and support its objectives over the long-term.

In November 2023, we provided £37.5 million Senior Secured Notes as part of a £75 million private placement club transaction. The proceeds will be used to refinance existing borrowings.

Telecom Plus decided to partner with us given: i) our strong relationship, ii) the Company’s desire to diversify funding sources, and iii) capacity for follow-on funding in the future.

We are excited to begin our funding relationship with Telecom Plus through this investment, and we look forward to supporting the Company in the years to come.

Relationship Since 2023

Transaction details:

£37,500,000 Senior Secured Notes

“We are very pleased to have agreed this new funding from PGIM and are looking forward to a long and fruitful partnership. We value their relationship-led approach and flexible offering, which will help Telecom Plus achieve its objectives in the future.”

Nick Schoenfeld, CFO Telecom Plus PLC