UK ISP TalkTalk has managed to secure vital support in the form of a £75m non-recourse financing facility from global investment firm KKR. This comes as TalkTalk tries to address the pressure from its existing debts by selling off parts of its business. The facility, collateralized by certain accounts receivables originated by TalkTalk and its subsidiaries, replaces a prior financing facility that was set to mature in September 2023.
The new facility will provide TalkTalk with additional liquidity for a term of approximately 3 years. This support from KKR will help TalkTalk continue to grow and connect consumers and businesses across the United Kingdom. Giacomo Picco, a Managing Director at KKR, expressed his satisfaction in being able to use their experience in receivable financing globally to support TalkTalk with the capital they need.
This financing facility comes at a crucial time for TalkTalk as they navigate their existing debts and work towards strengthening their financial position. It will allow them to access the necessary funds to invest in their operations and expand their services to better serve their customers.
TalkTalk has been actively working to address their financial challenges by implementing various strategies. The sale of parts of their business is one such strategy that aims to reduce their debts and focus on their core operations. With the support of KKR, TalkTalk is in a stronger position to achieve their objectives and continue providing reliable internet services to their customers.
This new financing facility demonstrates the confidence shown by KKR in TalkTalk’s future prospects. It highlights the potential growth opportunities in the UK ISP market and the value of investing in companies like TalkTalk. With this support, TalkTalk can further solidify its market position and contribute to the development of the digital infrastructure in the UK.