TalkTalk’s bond price has fallen to a new low as the embattled telecoms company races to secure a new deal with debt-holders by the end of this month.
One of the broadband provider’s bonds was trading at 66.25p in the pound on Friday, down nearly 9 per cent in a week.
TalkTalk is in the process of negotiating a refinancing of its debts, which amount to more than £1 billion. It said it was making “good progress” in its talks within bondholders.
Sir Charles Dunstone, the founder of TalkTalk, with his wife, Celia. Dunstone took TalkTalk private in 2021
DAVE BENETT/GETTY IMAGES
A key concern for TalkTalk, which was taken private by its founder Sir Charles Dunstone in 2021, is a £330 million revolving credit facility due to expire in November.
The company faces breaching its covenants without fresh investment by the end of this