Spanish incumbent Telefonica said this morning that it sealed a €3bn (US$4.1bn) syndicated loan yesterday.
It secured a five-year revolving credit facility, which is in a single tranche.
The bookrunners and mandated lead arrangers on the transaction…
Spanish incumbent Telefonica said this morning that it sealed a €3bn (US$4.1bn) syndicated loan yesterday.
It secured a five-year revolving credit facility, which is in a single tranche.
The bookrunners and mandated lead arrangers on the transaction were BBVA, Santander, BofA Merrill Lynch, Barclays, Bayerishe LB, BNP Paribas, CaixaBank, Citi, Commerzbank, Credit Agricole, Goldman Sachs, HSBC, Intesa SanPaolo, JP Morgan, Mediobanca, Mizuho, Societe Generale, Sumitomo, Bank of Tokyo-Mitsubishi, RBS, UBS and Unicredit.
Lloyds Bank and Morgan Stanley also acted as mandated lead arrangers while Banco Popular and Credit Suisse were lead arrangers.
Telefonica started talking to banks about the loan on 20 January. It was reported to be seeking the refinancing to improve the terms of the €3bn debt it used to purchase Brazilian operator Vivo in 2010, and push out the maturity to 2020.
Telefonica will also use €2bn (US$2.76bn) from the recently-closed sale of Telefonica Czech Republic to attack its debt pile. In its Q3 results it revealed net debt of €46bn (US$63.1bn).
