Incumbent Telecom New Zealand has secured a three-year NZ$600m (US$496.6m) committed standby revolving credit facility.
The company did not disclose the names of the banks involved, only saying that the facility is being provided “through…
Incumbent Telecom New Zealand has secured a three-year NZ$600m (US$496.6m) committed standby revolving credit facility.
The company did not disclose the names of the banks involved, only saying that the facility is being provided “through participation from Australasian and global banks.”
Nick Olson, Telecom NZ CFO, said the financing will help ensure the company has sufficient liquidity over the next three years.
“Telecom remains committed to A-band credit ratings with Moody’s and Standard
& Poor’s,” Olson added.
At the end of last year, infrastructure company Chorus was spun off from Telecom NZ in order for the incumbent to take part in New Zealand’s national broadband network (NBN) project.
