Global investment firm KKR has agreed to provide a £75M non-recourse financing facility to Salford-based telecoms firm TalkTalk.
The facility is backed by accounts receivables from TalkTalk and subsidiaries, replacing a £75M facility maturing in 2023. The new facility will give TalkTalk additional liquidity for approximately three years.
Advisory firm Demica served as TalkTalk’s advisor and will serve as the reporting and calculation agent for the programme, ensuring smooth execution and management of the financing facility.
New York-based KKR is a global investment firm that offers alternative asset management as well as capital markets and insurance solutions.
The investment firm backs funds that invest in private equity, credit and real assets, and has strategic partners that manage hedge funds.
KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group.
“We are pleased to use our experience in receivable financing globally to support TalkTalk with capital that will help the company continue to grow and connect consumers and businesses across the United Kingdom,” says Giacomo Picco, managing director at KKR.
