Oversubscribed revolver for Africa’s Mobile Telephone Networks

South African mobile operator Mobile Telephone Networks (MTN) has signed a $1.35bn revolving credit facility with a group of 14 banks.

  • 11 May 2011

The deal was oversubscribed and increased from the initial target of $1bn. It refinanced the outstanding piece of a $3.5bn five year loan signed in September 2006 to support the borrower’s acquisition of Investcom.

Barclays Capital co-ordinated the transaction while Banc of America Securities acted as facility agent. Barclays ...

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