New facilities to refinance some of the £1.25 billion shareholder loan provided equally on the company’s formation by its parent companies, Deutsche Telekom and France Telecom
Everything Everywhere has secured new bank financing facilities of £875 million. They comprise a term loan and a multi-currency revolving credit facility with maturities of between three and five years.
They will be used to refinance part of the £1.25 billion shareholder loan provided equally on Everything Everywhere’s formation by its parent companies, Deutsche Telekom and France Telecom.
The new facility is provided by a group of banks comprising The Bank of Tokyo-Mitsubishi UFJ, Barclays Capital, HSBC Bank, J.P. Morgan, Lloyds Bank Corporate Markets, Morgan Stanley and Royal Bank of Scotland.
Everything Everywhere chief financial officer Neal Milsom said: “We are pleased to receive the support of the high quality lenders who are participating in our new bank financing facilities.”