AT&T: secures 5.5 billion dollar loan from 12 banks

(CercleFinance.com) - AT&T entered into agreement with 12 banks for a term loan facility of 5.
5 billion dollars to provide additional flexibility to an "already strong cash position", the US telecommunications operator said on Tuesday.

The company said it also expects to collect about 2 billion dollars from the expected closing, later in 2020, from the previously announced sale of Central European Media Enterprises (CME), which it acquired with the acquisition of Time Warner in 2018.

The company said it also has a fully committed 15 billion dollar revolver in place, with no need or plans to use it in 2020.

At the end of 2019, AT&T had about 12 billion dollars in cash on hand.

Perhaps more importantly, AT&T said it looks forward to continuing to pay a quarterly dividend to shareholders, which was well received by investors today.

Its shares were up 3.4% on the New York Stock Exchange after these announcements.

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