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Telefonica Chile says obtains $150 million credit

Tue Jun 24, 2008 5:49pm EDT

SANTIAGO, June 24 (Reuters) - Telefonica Chile CTCa.SN, the nation's largest telecommunications company, said late on Tuesday it obtained a $150 million credit to refinance debt.

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The new, 5-year credit was led by Banco Santander, among other international banks, and was obtained to refinance an equal sum of debt due to be repaid in December of this year.

In 2007, Telefonica Chile saw its profit fall by more than half amid flat sales growth and higher costs associated with the promotion of newer business lines such as broadband and paid television. (Reporting by Pav Jordan; editing by Carol Bishopric)

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