Trilogy pays off USD450m of debt after NZ sale closes

25 May 2022

Trilogy International Partners (TIP) has pre-paid approximately USD450 million in aggregate outstanding indebtedness and accrued interest and confirmed that it ‘has no remaining indebtedness outstanding’. The debt related to the group’s existing 8.875% senior secured notes, 10% promissory notes and its 13.5% bridge loans, all of which were due in 2023.

On 19 May 2022 Trilogy announced that it had completed the NZD1.315 billion (USD847.2 million) sale of its New Zealand subsidiary, Two Degrees Group Limited (2degrees) to Voyage Digital, a holding company backed by Macquarie Asset Management, Aware Super and Vocus Group. At closing, after distributions to minority shareholders, settlement of 2degrees options and reductions for certain costs, Trilogy received approximately NZD905 million for its 73.17% stake.

New Zealand, United States, Trilogy International Partners, Two Degrees Mobile (2degrees)