LISBON, Portugal-Portugal Telecom announced a $1.8 billion multicurrency revolving credit facility. The financing will be used to support the company’s growth strategy and international diversification, it said.
A significant portion of the funds will be used for payment of the tender offer by PT for 46.7 percent of the ordinary capital, or 16.3 percent of the total capital, of Brazilian carrier Telesp Celular Participaoes and a subsequent share capital increase for TCP, the largest cellular company in Brazil.
