Incumbent Telecom New Zealand has reduced its NZ$400m (US$346.1m) standby revolving credit facility to NZ$300m (US$259.6m).
The maturity has been extended by one year to April 2017.
CFO Jolie Hodson said the agreement with Australasian and global banks…
Incumbent Telecom New Zealand has reduced its NZ$400m (US$346.1m) standby revolving credit facility to NZ$300m (US$259.6m).
The maturity has been extended by one year to April 2017.
CFO Jolie Hodson said the agreement with Australasian and global banks helps ensure that the operator has “sufficient liquidity to meet its business needs over the next three years”.
Telecom NZ recently agreed to sell its stake in Telecom Cook Islands in order to focus on its local operations. Late last year, it also sold its Australian wholesale broadband unit AAPT.
