German mobile service provider freenet has signed a new five-year EUR300 million (USD412.6 million) syndicated loan agreement to refinance its general business activities. The firm said that the new agreement will be used to repay the current credit line of initially EUR240 million, due in 2014, while also providing an early safeguard to ensure that the company is able to repay the EUR400 million bond expiring in 2016. ‘With the new, improved overall terms at ‘investment grade level’ we have already ensured the repayment of the corporate bond due in April 2016 with the new credit line and the bonded loan issued in December 2012,’ commented freenet’s CFO Joachim Preisig. Commerzbank was the coordinating mandated lead arranger, while Bayerische Landesbank, HSH Nordbank, Landesbank Baden-Wuerttemberg, Nord LB and UniCredit also served as mandated lead arrangers.
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