Clifford Chance Advises Telekom Austria on €1 Billion Refinancing
Telekom Austria AG has secured a new €1 billion revolving credit facility. The deal replaces an older, unused €1 billion facility from July 2019. Legal advice for the transaction was provided by law firm Clifford Chance.
The new credit line has a five-year term, with options to extend it twice by one year each. A consortium of 14 international banks provided the funding. Among them, Banco Bilbao Vizcaya Argentaria (BBVA) in Frankfurt, Citibank’s London branch, and Erste Group Bank AG acted as bookrunners.
Erste Group Bank AG also took on the role of facility agent. Christoph Nensa, Counsel at Clifford Chance, led the legal team advising Telekom Austria AG. The previous €1 billion facility, arranged in 2019, remained untapped and has now been replaced.
The updated credit facility gives Telekom Austria AG financial flexibility for the next five years. The involvement of multiple international banks and legal advisors highlights the deal’s scale. The company can now extend the facility twice if needed, ensuring long-term liquidity.
