Telefónica refinances its sustainable syndicated loan of 5.5bn euros
By Telefonica
Telefónica has completed the refinancing of its main syndicated credit line, for a total of 5.5 billion euros. The refinancing consisted of an extension of the maturity for one additional year and two extension options of one additional year each. Thus, the new maturity of the credit line is set for January 2030, with the possibility of extending it until 2032 in the event of executing the two one-year extension options.
The refinancing signed today was carried out under good market conditions for Telefónica, it had the unanimous support of the 27 participating entities and it obtained an oversubscription of more than 34%, well above its nominal value.
This loan contributes significantly to sustaining and strengthening the Telefónica Group's long-term liquidity levels. In addition, this financing remains linked to sustainability objectives (reducing emissions and increasing the number of women in management positions), with a cost conditional on compliance, and contributes to achieving the company's sustainable financing objectives.
Telefónica has been advised by NatWest as coordinator of the execution; by BNP Paribas and CACIB as sustainability coordinators; and by Clifford Chance as legal advisor.
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