AT&T pays down, terminates term loan facilities with Citibank, BofA

By Sarah Lizee

Olympia, Wash., Sept. 24 – AT&T Inc. repaid in full the $2.85 billion outstanding under its $2.85 billion term loan credit agreement dated as of Jan. 31, 2019 with Citibank, NA as agent, according to an 8-K filing with the Securities and Exchange Commission.

The company also said that it recently completed the prepayment and termination of two existing term loan credit agreements with outstanding balances totaling $5.9 billion. The prepayments were made with $1.3 billion of cash on hand, the proceeds from the company’s note offering that closed on Sept. 11, and the proceeds from a new term loan credit agreement providing for a loan of $1.3 billion from Bank of America, NA.

Additionally, AT&T repaid $500 million of the $3.55 billion term loan credit agreement with BofA as agent in the second quarter of 2019, and on Sept. 20, it repaid the remaining $3.05 billion outstanding.

AT&T is a Dallas-based telecommunications company.

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