Telecom extends and reduces standby facility

Telecom has today announced that it has trimmed the size of its banking facility, reducing its NZ$400 million committed standby revolving credit facility (“Standby”) to NZ$300 million.

Announced via the New Zealand stock exchange today, the telco giant also says the Standby has been extended a further year, to mature on 14 April 2017.

The facility is provided through participation from Australasian and global banks.

“The agreement of this facility helps to ensure Telecom has sufficient liquidity to meet its business needs over the next three years,” says Jolie Hodson, CFO, Telecom.

“Telecom remains committed to an A band credit rating.”

Follow Us
on Google+
Sponsored

Android App Review: St John NZ

NetGuide Apparently more than nine people go into cardiac arrest every day in New Zealand, and their chances of survival are not high. If it happened to someone near you would you know what to do to help them? Me neither, but the St John NZ app increases their chances by explaining how to do CPR in a way anyone can follow.   Read More →