Alcatel-Lucent to repay credit facility debt with convertibles proceeds

By Sara Rosenberg

New York, June 2 - Alcatel-Lucent intends to pay down senior secured credit facility borrowings using proceeds from €1 billion of convertible notes in two tranches, according to a news release.

The convertibles may be increased to a total of €$1.1 billion if the over-allotment options are exercised in full.

The credit facility paydown is expected to occur on Aug. 19.

Alcatel is a Paris-based telecommunications services and equipment company.

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