AT&T Closes $2 Billion Syndicated Bank Facility

AT&T closed a $2 billion syndicated bank facility, which is intended as a backstop for the company's commercial paper or other short-term debt maturing over the course of the next year. The bank facility contains a $300 million sub-limit under which AT&T can issue letters of credit as well as a provision that allows AT&T to extend the maturity of the facility for one year. The company said JP Morgan and Citigroup acted as lead arrangers of this facility.
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