Weil advised funds managed by Ares Management (“Ares”) as the lender and shareholder on the provision of £100 million of new funding facilities to TalkTalk Group.

TalkTalk Group, the UK’s leading value for money connectivity provider, secured the new funding alongside approximately £50 million non-core asset sales and amendments to existing debt facilities, enhancing the group’s funding capacity by over £200 million.

The new funding will strengthen the group’s working capital position and support investment in its two businesses: PXC and TalkTalk. PXC is focused on delivering a next-generation all-IP product set and driving operational efficiencies across its network and IT operations. The TalkTalk consumer business is investing in a new and differentiated product offering focused on in-home WiFi coverage.

The Weil team was led by Restructuring partner Matt Benson and Finance partner Alastair McVeigh, together with partners Andy Hagan and Simon Lyell, supported by counsel Marcus Chaplin-Roberts, Jack Gray and Max Frolov and associates Saahil Sheth, Hongbei Li and Adebayo Lanlokun. We also advised Ares as PIK lender and minority shareholder in the refinancing of TalkTalk in December 2024.