By Will Sturgeon, 4 December 2001 07:28
NEWS France Telecom is on the verge of securing one of the largest corporate loan deals of the year. The heavily indebted telco is hoping to secure a refinancing deal for at least half of its E30bn (£18.6bn) borrowing from last year and has approached 17 banks, requesting E1.5bn (£900m) from each. The new deal is expected to consist of a revolving credit facility - at least E10bn (£6.2bn) of which will be good for three years, according to the Financial Times. France Telecom has approached leading banks, including Barclays Capital, BNP Paribas, Citibank and CSFB - all of which were involved in the previous round of financing.
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