Alcatel-Lucent announced the closing of a new credit facility, first announced in December. Following "very strong" demand from investors during the syndication process managed by Credit Suisse and Goldman Sachs, Alcatel-Lucent increased the size of the facility to around EUR 2 billion, from the original target of EUR 1.6 billion. This led to a reduction in pricing of approximately 90 basis points and a decrease in original issue discount of 150 basis points across the facilities. In addition, the financial covenant has been removed, and call protection on the term loan tranches has been reduced. Alcatel-Lucent confirmed that the proceeds will be used for the refinancing of existing debt and for working capital and general corporate purposes.
