Spanish operator Telefonica has signed a US$1.2bn credit facility with China Development Bank (CDB) and Industrial and Commercial Bank of China.
The loan, described as a “jumbo buyer’s credit facility”, matures in ten years and will be used to…
Spanish operator Telefonica has signed a US$1.2bn credit facility with China Development Bank (CDB) and Industrial and Commercial Bank of China.
The loan, described as a “jumbo buyer’s credit facility”, matures in ten years and will be used to serve for the purchasing of products and solutions worldwide, Telefonica said.
BBVA acted as facility agent.
This credit line is the second tranche of financing granted to Telefonica by CDB, following the US$375m facility it closed in January.
In June the telco had net debt of circa €57bn.
