October 10, 2018 |
Telecom Argentina has signed a four-year, $500m loan from six financial institutions to help cover half the firm's 12-month, $1bn bridge loan it obtained in February.
Citi, HSBC, ICBC, DIFC, JPMorgan and Santander were the lenders on the transaction.
The loan pays 450bp over Libor during the first year of maturity, before stepping up to 500bp during year two and 525bp over Libor for the last two years.
Telecom Argentina said it cannot draw on this latest facility until it prepays at least $100m
Local telecommunications player nets $500m from six banks to help repay an existing bridge facility