Spanish incumbent Telefonica is looking to extend maturities on debt used for the acquisition of O2 in 2005 and to set up a new five-year credit line, according to a media report.
Citing three sources with knowledge of the situation, Bloomberg reported…
Spanish incumbent Telefonica is looking to extend maturities on debt used for the acquisition of O2 in 2005 and to set up a new five-year credit line, according to a media report.
Citing three sources with knowledge of the situation, Bloomberg reported that Telefonica is asking lenders to extend by three years the maturity of £2.1bn (US$3.3bn) in loans from the end of 2012 to 2015.
The company is reportedly looking to extend a revolving credit facility from 2013 to 2017 and to add a new five-year credit line. Telefonica is reportedly self-arranging the transaction.
A Telefonica spokesman was not immediately available for comments.
Telefonica completed its acquisition of O2 in January 2006. The acquisition was financed by £17.9bn of debt incurred under a credit facility.
