[Iliad Press Release] Successful €1.4 billion refinancing with 12 international banks

Paris, November 29, 2013
  

Successful €1.4 billion refinancing with
12 international banks

Iliad has refinanced its June 2010 syndicated credit facility, with 12 international banks participating in the operation.
The success of the refinancing illustrates the strength of Iliad's business strategy, notably for the rollout of its landline and mobile networks.

The refinanced credit facility - which has an initial term of five years (maturing in 2018) and may be extended to seven years (maturing in 2020) - has enabled the Group to increase both its financial flexibility and the average life of its borrowings. Iliad's debt level remains unchanged, but the credit facility conditions are better, with an initial lending margin of 0.70% per year obtained thanks to the Group's new status as an integrated operator for landline and mobile communications.

The syndication was largely oversubscribed.
  
The participating banks are as follows:

Mandated arrangers and bookrunners
BNP Paribas, Crédit Agricole Corporate and Investment Bank, Groupe Crédit Mutuel - CIC, HSBC, ING Bank, Landesbank Hessen - Thürigen Girozentrale ("Helaba"), Natixis, and Société Générale Corporate & Investment Banking

Mandated arranger

Sumitomo Mitsui Banking Corporation

Arrangers

La Banque Postale, Barclays Bank PLC, and Bank of China

About Iliad

Iliad is the parent company of Free, the inventor of the Freebox, the first multiservice box on ADSL. Free is behind numerous innovations in the broadband access segment (VoIP, IPTV, flat-rate calling plans to multiple destinations, etc.). Free provides straightforward and innovative offerings at the best prices. At the end of 2010, Free introduced the Freebox Revolution, the 6th generation of Freebox units that notably includes an NAS and a Blu-Ray^TM drive. Free was the first operator to include calls from landlines to mobile phones in its offerings and also calls to French overseas departments (DOM). Since January 2012, Free has brought mobile phone usage within everyone's reach with straightforward, no-contract offerings at very attractive prices. Free has over 5.5 million broadband subscribers and over 7.4 million mobile subscribers (as at September 30, 2013).