Komerční bank arranges refinancing for O2 with CZK 9.24bn loan
O2 Czech Republic has secured financing of CZK 9.24bn from a group of banks to use to pay existing debt as well as for general corporate uses. The banks involved in the deal were Komerční banka, which acted as the transaction agent, Česká spořitelna, Československá obchodná banka, ČSOB, Raiffeisenbank, UniCredit Bank Czech Republic and Slovakia, and Všeobecná úverová banka. "The company will use the 5-year loan primarily to pay off a current bank loan of CZK 7bn," said CFO Tomáš Kouřil. O2 currently handles nearly 8 million mobile and fixed lines. It recently reported that after two months of 65 percent growth in subscriptions for the first two months of 2020, March subscriptions grew by just 15 percent to reach 459,000.