Telefónica modifies syndicated financing for 5,500 million euros

the spanish group Telefónica announced on Thursday a contract to modify the financing for an amount of 5,500 million euros that it has with a group of spanish banks and foreigners.

The mechanism is linked to sustainability objectives, including reducing emissions of greenhouse gases and increase of women in executive positions.

The syndicated contract credit It is made up of a single tranche of up to five thousand five hundred (5,500) million euros, under the “revolving” credit modality – revolving loans, in which the credit limit is lowered or raised to the extent that the client used and restored to the extent that the customer makes payments to restore it—, for a term of five years and with two annual extension options at the request of Telefónica, up to a maximum maturity of 7 years.

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