Spain’s Telefónica has signed a new 10 year export credit facility with a syndicate of five banks. The telecoms firm, which is also in the market with a forward start line to refinance the remaining portion of its O2 acquisition facility from 2006, had mandated Société Générale to lead its new export credit line as agent and mandated lead arranger.
Bank of Tokyo-Mitsubishi UFJ, BNP Paribas and Santander were also mandated lead arrangers on the deal, which was supported by EKN and SEK.
Telefónica is also looking to replace the final portion of its O2 acquisition debt, which was first signed in 2006.
The £1bn and £2bn lines, maturing