TalkTalk Group has provided an update that will see funding increased to a total of around £120m for proposed participation in the new facilities by other existing financial stakeholders of the group, and will be used to strengthen the group's working capital position.
This follows the news in late July of the £100m new funding facilities committed by existing shareholders.
The new £120m will also be used to support new product and other investment across its two businesses - PXC and TalkTalk.
The Group also confirms that more than 90% of its first lien creditors and approximately 87% of its second lien creditors have signed up to a support agreement to implement the transaction announced on 25th July.
