Sunrise Communications AG Secures EUR 385 Million Senior Secured Notes Add-On and USD 650 Million Term Loan Facility to Extend Debt Maturities
Reuters
Oct 03
<a href="https://laohu8.com/S/SNRE">Sunrise Communications AG</a> Secures EUR 385 Million Senior Secured Notes Add-On and USD 650 Million Term Loan Facility to Extend Debt Maturities
**Sunrise Communications AG Secures New Financing to Extend Debt Maturities** Sunrise Communications AG has announced the successful negotiation of new financing arrangements, including a private placement add-on of EUR 385 million in 4.625% Senior Secured Notes due 2032 and an additional USD 650 million term loan facility. The proceeds from these transactions will be used to fully refinance Sunrise's existing USD Term Loan B due 2028 and to redeem a significant portion of its USD 5.5% Senior Notes due 2028, covering related derivative terminations and transaction costs. The refinancing will extend Sunrise's debt maturity profile, with 83% of its debt now maturing in 2031 or later, and 59% due in 2032. The new notes, issued through Sunrise Finco I B.V., will be sold to non-U.S. investors and are expected to be fully fungible with existing notes after a 40-day compliance period. The additional term loan, under Facility AAA1, is expected to close on October 8, 2025, and mature on February 15, 2032. These transactions are leverage-neutral and aim to provide Sunrise with a longer-term, more flexible capital structure.
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