Deutsche Telekom’s $2.5 Billion Revolving Credit Facility Agreement with T-Mobile US

January 10, 2017

Cleary Gottlieb represents Deutsche Telekom in the $2.5 billion revolving credit facility agreement with its U.S. publicly traded subsidiary T-Mobile US.

The three-year credit agreement, intended to serve as a liquidity line for T-Mobile US, consists of a $1 billion senior unsecured revolving credit facility and a $1.5 billion senior secured revolving credit facility. The transaction was unusual in that the agreements contain a right for T-Mobile US to convert the facilities to pre-negotiated term loans or high-yield notes on a change of control of T-Mobile US.

Deutsche Telekom is one of the world’s leading integrated telecommunications companies and a long-standing Cleary client.