Alcatel-Lucent repays $1.75 billion loan

France’s Alcatel-Lucent has repaid in full, a $1.75 billion loan that was secured with group’s patents on January 30, 2013.

The early repayment forms part of Alcatel-Lucent’s Shift Plan, revealed in June 2013 and designed to reduce the company’s debt.

“Through the measures we have taken to strengthen our balance sheet, we have also been able to regain control of our own destiny,” said Michel Combes, chief executive of Alcatel-Lucent, in a statement.

“In particular, the release of intellectual property, giving us now the freedom and flexibility to leverage these assets as and how we see beneficial for Alcatel-Lucent’s future.”

Efforts towards regaining revenue saw Alcatel-Lucent slash 10,000 jobs in October last year, as well as sell its satellite arm, LGS Innovations, in April 2014.

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