More NewsCiti and Deutsche Bank Sign EKN-guaranteed Facility with Telefónica

Citi and Deutsche Bank Sign EKN-guaranteed Facility with Telefónica

Telefónica, a large telecommunications operator across the Spanish- and Portuguese-speaking world, has signed a term loan facility with Citigroup and Deutsche Bank for US$472m. Citi and Deutsche Bank acted as mandated lead arrangers. Deutsche Bank is also acting as facility agent.

The facility will finance a commercial contract signed between Telefónica and Ericsson for the procurement of 2G and 3G core network equipment and related services by Telefónica Group companies in Europe and Latin America over a two-year period.

The facility matures in 2019 and it benefits from a competitive fixed rate provided by AB Svensk Exportkredit (SEK) and comprehensive insurance cover from Exportkreditnämnden (EKN), the Swedish export credit agency.

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