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 leading banks and replaces an older, unused facility from 2019. Legal advice for the transaction came from international law firm Clifford Chance.
The new five-year credit line includes two possible one-year extensions. It was structured by a consortium of 14 international banks, with Bank Austria, UniCredit Group, Erste Group Bank AG, Raiffeisen Bank International AG, and Société Générale acting as core lenders.
BBVA’s Frankfurt branch, Citibank’s London office, and Erste Group Bank AG served as bookrunners. Erste Group also took on the role of facility agent for the transaction. Clifford Chance provided legal guidance to Telekom Austria AG. Counsel Christoph Nensa led the firm’s advisory team throughout the process.
The facility replaces an earlier €1 billion revolving credit line agreed in July 2019. That previous arrangement had remained untapped. The updated terms and extended options reflect Telekom Austria AG’s current financing strategy.
