PRAGUE, Czech Republic-Cesky Telecom said it closed with five banks a $1 million syndicated credit facility, which it will use to purchase the 49-percent stake in mobile operator Eurotel Praha held by AT&T Wireless and Verizon Communications.
The acquisition was first announced in June. Syndication was launched Oct. 20 and was aimed at a group of Cesky Telecom’s relationship banks. The transaction achieved an oversubscription of almost $235 million, and 10 banks joined the five mandated lead arrangers, the operator said. However, the facility size was not increased.
The loan is split into three tranches, a $353 million 364-day revolving credit facility with term-out and extension options, a $353 million five-year amortizing term loan facility and a $294 million five-year revolving credit facility.
