Telco today completed the issue of a €1.3bn bond, subscribed for pro-rata by its shareholders. The proceeds have been used to reimburse in full the approx. €0.9bn bridge loan granted by shareholders Telefonica, Intesa Sanpaolo and Mediobanca, and the approx. €0.4bn bank bridge loan granted by Intesa Sanpaolo and Mediobanca. The company’s bank debt therefore has been reduced to €2.1bn.
Milan, 26 February 2010