AT&T lifts term loan commitments to $16 billion, extends to year-end

By Marisa Wong

Morgantown, W.Va., Feb. 5 – AT&T Inc. amended on Feb. 2 its $10 billion term loan credit agreement dated Nov. 15, 2016 with JPMorgan Chase Bank, NA as agent to increase commitments and extend the commitment termination date, according to an 8-K filing with the Securities and Exchange Commission.

The tranche A commitment was increased to $8,087,500,000 from $5 billion, and the tranche B commitment was increased to $8,087,500,000 from $5 billion.

In addition, the termination date was extended to Dec. 31, 2018.

As previously disclosed, advances made under the credit agreement will be used solely to finance a portion of the cash consideration to be paid in the company’s merger with Time Warner Inc., to refinance Time Warner debt and to pay related fees and expenses.

The telecommunications services provider is based in Dallas.

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