South African telecoms group MTN is reportedly in talks with lenders for a new US$1bn revolving credit facility.
The operator has mandated Barclays for the facility, which will replace a US$1.35bn three-year loan secured in May 2011, according to a…
South African telecoms group MTN is reportedly in talks with lenders for a new US$1bn revolving credit facility.
The operator has mandated Barclays for the facility, which will replace a US$1.35bn three-year loan secured in May 2011, according to a Reuters report citing banking sources.
MTN could not immediately comment on the report.
The syndication is expected to include up to 13 banks and initial responses from lenders are due by 19 February.
In November last year, local media suggested that MTN was in talks with rival Telkom for the latter’s loss-making mobile phone unit. Details of the deal or partnership were unclear. Telkom later rejected claims that it had received a US$3bn offer from an Asian company for its mobile and tower businesses.
