Clifford Chance Advises Telekom Austria on €1 Billion Refinancing
Telekom Austria AG has secured a new €1 billion revolving credit facility. The deal was arranged by a group of 14 international banks and replaces an older, unused facility from 2019. Legal advice for the transaction was provided by Clifford Chance.
The new credit line runs for five years, with the option to extend it twice by one year each. Banco Bilbao Vizcaya Argentaria (BBVA) in Frankfurt, Citibank’s London branch, and Erste Group Bank AG led the arrangement as bookrunners. Erste Group also took on the role of facility agent.
Clifford Chance guided Telekom Austria through the process, with Counsel Christoph Nensa heading the advisory team. While the full list of participating banks remains undisclosed, the consortium includes 14 financial institutions.
The facility replaces a previous €1 billion revolving credit line from July 2019, which had not been utilised. The updated agreement provides Telekom Austria with renewed financial flexibility. No further details about the remaining consortium members have been made public.
