Telecom adds another $400 mln to bank funding line

Tue, 19 Jun 2012

By Paul McBeth June 19 (BusinessDesk) - Telecom, New Zealand's biggest listed company, has added a further $400 million to its bank credit lines which it says it will use to repay short-term debt and general corporate purposes. The phone company set up a two and three-year revolving credit facility with Westpac Banking in addition to its as-yet undrawn $600 million syndicated committed standby credit facility established in April, it said in a statement. The new funding line will go towards repaying $420 million of debt coming due this year....

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