Telefonica signs EUR 3 bln syndicated loan with 26 banks

Wednesday 19 February 2014 | 09:39 CET | News
Telefonica has refinanced a EUR 3 billion syndicated loan with 26 creditor banks, according to sources close to the company cited in business daily Expansion. The new credit line matures in 2019 and is priced at around 60 percent less than a similar operation signed in 2013. The support shown by the financial entities was "extraordinary" according to the sources, and the operation was oversubscribed by 40 percent. Telefonica remains one of Europe's most heavily indebted telecoms operators and the company has been divesting assets in recent months, but this move could provide it with funds for

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Categories: General
Companies: Telefonica
Countries: Spain
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