Telecom Italia Signs €1.5 Billion Bridge Loan for Refinancing
The Telecom Italia headquarters in Rozzano, Italy.
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Telecom Italia SpA has signed a €1.5 billion ($1.6 billion) bridge loan to cover its refinancing needs until it closes the sale of its network.
The extra liquidity could reassure investors as the company awaits European regulators’ approval for its as much as €22 billion fixed-line network sale. The former Italian phone monopoly signed a landmark deal last year to sell the grid to KKR & Co. to help bring its debt pile under control.