Spark NZ establishes $125mn facility with Westpac

Tue, 29 Nov 2016

By Sophie Boot Nov. 30 (BusinessDesk) - Spark New Zealand has established a $125 million committed revolving loan with Westpac to refinance its debt, it said in a statement to the NZX. The facility will mature on Nov. 30, 2020, and will be used to refinance existing debt and "general corporate purposes," the company said. In August, the country's biggest telecommunications company reported annual sales of $1.5 billion and net profit of $370 million in the year to June 30. Spark boosted operating cash flow 14 percent to $716 million in...

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