Alcatel Closes $1.8B Credit Facility

Alcatel closes $1.83 billion (€2.1B) syndicated credit facility

April 9, 2002

1 Min Read

PARIS -- Alcatel (Paris: CGEP.PA and NYSE: ALA) today announced the closing of a Euro 2,075 million syndicated credit facility.The syndication was aimed at reorganizing the outstanding undrawn bilateral credit lines originally provided by 21 banks, with different maturities, terms and conditions.The new facility was increased from its initial amount of Euro 1.5 billion as announced in the 5th of March press release following a substantial over-subscription to Euro 2.7 billion. It is comprised of a three year tranche of Euro 1,375 million and a 364 day tranche of Euro 700 million.Alcatel received strong support from its existing bilateral lenders as 85% of the current credit line commitments were carried over to the new facility. In addition, approximately 20% of market liquidity was provided by banks which had no prior credit exposure to Alcatel, including several investment banks. The transaction was concluded at tight pricing, given current market conditions.ABN AMRO Bank N.V., J.P. Morgan plc and SG Investment Banking acted as Mandated Lead Arrangers and Underwriters for this facility where Société Générale was given the role of Facility Agent.Alcatel SA

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