Today, Mobistar’s Board of Directors has approved the re-financing of its 450 million euros long-term revolving credit facility expiring in December 2015. The new long term revolving credit facility, with an average maturity of 5 years, amounts to 420 million euros and will be provided by Atlas Services Belgium S.A. (100% Orange S.A. subsidiary). It comes on top of the existing 120 million euros revolving credit facility signed in December 2013.
“We are pleased to have closed this refinancing, which is consistent with our ongoing disciplined approach to maintain a strong, flexible balance sheet and create value for all our stakeholders,” said Ludovic Pech, Mobistar’s CFO. “Attractive credit markets made this an ideal time to refinance and to prolong the company’s debt maturity profile. Likewise this refinancing provides the necessary borrowing capacity to allow Mobistar to execute its current strategic plan.”