Telco, the holding company that owns a 22.5% stake in Telecom Italia, is confident of signing two refinancing loans worth E2.6bn on January 11, according to Il Messaggero newspaper.
The report suggests that Intesa Sanpaolo, Mediobanca, UniCredit and SG…
Telco, the holding company that owns a 22.5% stake in Telecom Italia, is confident of signing two refinancing loans worth E2.6bn on January 11, according to Il Messaggero newspaper.
The report suggests that Intesa Sanpaolo, Mediobanca, UniCredit and SG will provide a E1.35bn loan due 2012, as part of the deal.
In December TelecomFinance reported that Telecom Italia was understood to have mandated Bank of Tokyo Mitsubishi, Barclays, Intesa Sanpaulo and SG for a E1bn refinancing loan.
The Italian incumbent is looking to form a club of banks to provide the facility to replace its existing E1.5bn revolver, which expires in 2010.
Telecom Italia had net debt of E35.5bn at the end of Q3 2009 and is rated BBB.