May 19 (Bloomberg) -- SFR, a French mobile phone operator owned by Vivendi SA and Vodafone Group Plc, is finalizing a 1.2 billion-euro ($1.5 billion) credit line, lenders said.
The five-year facility will pay initial interest of 75 basis points more than the euro interbank offered rate on drawn funds, according to the statement today.
SFR, France’s second-largest mobile-phone company, will pay 15 basis points and 30 basis points for access to the credit, depending on how much it borrows. Lenders will also get a commitment fee equivalent to 35 percent of the applicable margin. A basis point is 0.01 percentage point.
Bank of Tokyo-Mitsubishi UFJ Ltd., BNP Paribas SA, Credit Agricole CIB, HSBC Holdings Plc, ING Groep NV, Mediobanca SpA and Societe Generale SA arranged the transaction, which replaces a deal of the same amount signed in July 2004, according to the statement.
Paris-based Vivendi owns 56 percent of SFR while Vodafone holds 44 percent. SFR accounts for about half of Vivendi’s revenue.
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