Spark beefs up funding with new $100 mln banking facility

Thu, 17 Sep 2015

By Paul McBeth Sept. 17 (BusinessDesk) - Spark New Zealand, the country's biggest telecommunications provider, has beefed up its funding lines with a new $100 million facility with Westpac New Zealand, which it will use for general business. The Auckland-based company, formerly known as Telecom Corp, established the committed revolving facility which will mature in November next year, it said in a statement. Spark had a near-identical facility with Westpac until March, when it decided it didn't need it, a spokesman said. "The proceeds...

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