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Telecom Italia: partial renewal of syndicated bank loan

07/13/2001 - 12:00 PM

Telecom Italia announces that it has undertaken to renegotiate a partial renewal for an amount of €8 billion of the original €13 billion credit line, opened last year with maturity next August.

It is foreseen that the credit line will have a maturity of 364 days and the total spread expected is approximately 40 basis points over Euribor.

This credit line will provide Telecom Italia with the liquidity it requires for the company´s ordinary activities, as well as for letters of credit, guarantees etc, without altering the total dimension of the Group´s indebtedness.

JP Morgan and Mediobanca will be the lead arrangers of the syndicated loan.