Telecom Italia completes €4bn forward start

Telecom Italia has completed a new €4bn forward start facility with a syndicate of almost 30 bank lenders. The loan, co-ordinated by Barclays and Intesa Sanpaolo, will replace part of a €6bn revolving credit line signed in August 2005.

  • 01 Jun 2012

The five year deal has an all in margin of 250bp over Euribor. The outstanding line had a margin of just 22.5bp over Euribor.

The new transaction was oversubscribed, with lenders seeing their commitments scaled back. Other deals from Italian borrowers, including Enel, have also seen strong demand from ...

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