Cable & Wireless homes in on £600m for spin offs

Cable & Wireless is close to signing £600m of syndicated loans, it said on Tuesday as it outlined details to spin off CWI and Worldwide, its two main businesses.

  • 20 Nov 2009
The telecoms group is close to agreeing a new £300m three year secured bank facility for Worldwide, its UK division, which will have a margin of 350bp over Libor. This will replace an existing £200m deal signed in December 2008, on which Bank of Ireland, Barclays Capital, Lloyds ...

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