To secure all financial operations in view of the creation of the NewCos, Team obtains from a pool of banks a 1,5 billion bridging loan with a maturity of 18 months. “The operation is aimed at covering refinancing needs until the closing date of the sale of NetCo and presents conditions in line with market benchmarks” says a note this morning.
The closing of theNetCo operation is expected by Tim e kkr by the end of June. The TLC giant, led by Pietro Labriola, had BNP Paribas, Credit Agricole CIB, Deutsche Bank, JP Morgan, Santander and Unicredit as bookrunnes of the loan, with the latter also acting as Documentation Bank and Facility Agent. The title Tim, after closing yesterday's session down 1,93% to 0,2285 euros, today it loses another 0,35% to 0,23 euros.
Yesterday was a historic day for Tim in the legal field: after 15 years of battles, the Court of Appeal of Rome issued a sentence establishing that the group is entitled to the repayment of the concession fee for 1998 from the State for a figure close to 1 billion euros.