Alcatel-Lucent rings in cost reduction finance

French telecoms firm Alcatel-Lucent has signed credit facilities totalling around $2.13bn. Credit Suisse and Goldman Sachs underwrote the deal. The facility is split into a $500m 3.5 year asset sale facility priced at 600bp over Libor and $1.275bn and €250m six year term loans priced at 700bp over Libor.

  • 04 Jan 2013

The firm will use the funds to extend its maturity profile and to implement its €1.25bn cost reduction programme. This includes exiting or restructuring from unprofitable service contracts and geographies. This will include cutting around 5,500 staff globally, including shrinking its western Europe headcount by half.

In July, ...

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