Iliad, the parent company of French ISPs Free and Alice, has closed the syndication of its five-year 1.4bn new debt bundle.
The loan consists of a E600m term loan facility and a E800m revolving credit facility. The term loan facility refinances a E1.2bn…
Iliad, the parent company of French ISPs Free and Alice, has closed the syndication of its five-year 1.4bn new debt bundle.
The loan consists of a E600m term loan facility and a E800m revolving credit facility. The term loan facility refinances a E1.2bn revolving credit facility closed on June 25 2008, while the RCF will be used for the roll-out of the company’s mobile network and for general corporate purposes.
BNP Paribas, Credit Agricole, Credit Mutuel-CIC, Natixis, Societe Generale and WestLB are MLAs and bookrunners, while ING and Rabobank are MLAs. Credit Lyonnais, HSBC, Santander, SMBC, Credit Agricole d’Ile de France joined as arrangers.
Iliad posted E1.95bn revenues in 2009 and had about 4.5 million subscribers, representing an ADSL market share of 24.1%. In January, it won France’s fourth mobile licence.
