Telecom Italia secures 750 mln euro state-backed loan
MILAN: Telecom Italia (TIM) is set to receive a 750-million euro ($884 million) syndicated loan backed by Italy’s export credit agency SACE, two sources familiar with the matter told Reuters on Thursday.
The five-year facility provided by a pool of banks will benefit from a 70% guarantee under SACE’s Archimede scheme, the sources said, asking not to be named. It is expected to be finalised as early as this month.
