Telefónica reaches out to new lenders for O2 refi

07 Feb 2012

Spanish telecom Telefónica has launched a self-arranged transaction refinancing part of the credit facilities used to back its acquisition of O2 in 2006.

The Baa1/A-/BBB+ rated borrower is looking to refinance up to £4.2bn of existing debt in a new facility that is partly structured as a forward start. Some 38 banks provided the outstanding line, but the borrower does not expect all of them to recommit at the same levels, ...

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