Investment Firm KKR Gives Broadband ISP TalkTalk a £75m Boost
Budget UK ISP TalkTalk, which is currently already in the process of trying to deal with pressure from its existing debts by selling off parts of their business (here and here), managed to secure some vital support at the end of last week after global investment firm KKR agreed to provide them with a £75m non-recourse financing facility.
According to the announcement, the facility, which is collateralized by certain accounts receivables originated by TalkTalk and its subsidiaries, replaces a prior £75m financing facility, which matures in September 2023. The new facility will give TalkTalk access to additional liquidity for a term of approximately 3 years.
“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,” said Giacomo Picco, a Managing Director at KKR.
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Mark is a professional technology writer, IT consultant and computer engineer from Dorset (England), he also founded ISPreview in 1999 and enjoys analysing the latest telecoms and broadband developments. Find me on X (Twitter), Mastodon, Facebook, BlueSky, Threads.net and Linkedin.
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Who would have thought Talk Talk would be so desperate to get money from an investment firm. Times have changed, I always thought Talk Talk was doing well, since they were cheap, not so cheap these days.
I used to know a fair few people on Talk Talk in the old ADSL days, I know one person who is still using them, but not for long I don’t think.
I wonder if Talk Talk still say we don’t have FTTP here?
Really worrying times for us employees, the current mood is doom and gloom – our employee satisfaction scores have never been lower. Budgets have been slashed, people are leaving and more are set to do so.
It feels like we’re in completely free fall.
Because you are….