August 8, 2012 / 8:20 AM / in 7 years

Telekom Austria gets new revolving credit facility

VIENNA, Aug 8 (Reuters) - Telekom Austria has secured a new 735 million euro ($913 million) five-year syndicated revolving credit facility, it said on Wednesday.

The line - set up with 16 lenders in a group led by Citi and UniCredit - replaces a syndicated credit facility worth 713 million euros that matures in August 2013.

“With this new syndicated credit facility Telekom Austria Group currently has access to 935 million euros (in) undrawn, committed credit lines, which increase our financial flexibility,” finance chief Hans Tschuden said.

The transaction underlined Telekom Austria’s commitment to its investment grade rating, he said. ($1 = 0.8052 euro) (Reporting by Michael Shields; Editing by Dan Lalor)

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