This will allow the Group to strengthen its financial structure, increase its liquidity and extend the average maturity of its debt.
The operation involves setting up a new €1 billion term loan, repayable in five years, setting up a new €2 billion facility with a maximum maturity of 2.5 years, giving the company more financial agility.
The operation will also involve refinancing the existing revolving credit facility, increasing its amount to €2 billion from €1.65 billion previously
Nicolas Jaeger, deputy CEO of finance at Iliad said: “Demand for the operation was extremely high, once again demonstrating the strong support of our banking partners and their confidence in the continued execution of our Odyssey 2024 plan and in the Group’s European development strategy.”
Iliad says it was helped by several banks to secure the funding including BNP Paribas, Bank of America and the Bank of China.
Iliad has been one of several companies involved in consolidation talks around Europe. The firm was rumoured to be in talks with Vodafone to combine its Italian businesses earlier this year.
