KKR Agrees To Provide 75 Mln Pounds Financing Facility To TalkTalk

(RTTNews) - KKR & Co. Inc. (KKR), an investment major, announced on Friday that it has agreed to provide a 75 million pounds of non-recourse financing facility to TalkTalk Telecom Group Plc, an internet service provider in the UK.

Giacomo Picco, a Managing Director at KKR, said: "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."

The facility, which is collateralized by certain accounts receivables originated by TalkTalk and its units, replaces a prior 75 million pounds financing facility, which matures in September.

The new facility will give TalkTalk access to additional liquidity for a term of around three years.