Summary
AT&T Inc. (T) filed an 8-K on December 11, 2013, to report material amendments to its $5 billion revolving credit agreement. The primary amendment extends the maturity date of the credit facility by two years, pushing the termination of lenders' obligations to provide advances to December 11, 2018. This extension provides AT&T with continued financial flexibility and access to a significant source of funding. Additionally, the agreement allows for further two one-year extensions under specific conditions, demonstrating a commitment to maintaining robust liquidity options. Other amendments were made primarily to ensure compliance with regulatory requirements.
Key Highlights
- 1AT&T amended its $5 billion revolving credit agreement.
- 2The maturity date of the credit agreement was extended by two years, now terminating on December 11, 2018.
- 3The agreement provides AT&T with continued access to a $5 billion credit facility.
- 4There is potential for further one-year extensions beyond 2018 under certain conditions.
- 5Amendments were made to comply with various regulatory requirements.
Frequently Asked Questions
The main purpose of this 8-K filing is to inform investors about significant amendments to AT&T's $5 billion revolving credit agreement, most notably the extension of its maturity date.
The extension of the credit agreement provides AT&T with enhanced financial flexibility and secures access to a substantial $5 billion credit facility for a longer period, which is crucial for ongoing operations, investments, and strategic initiatives.
The credit agreement's termination date for lenders' obligations to provide advances has been extended to December 11, 2018. The agreement also includes provisions for potential further one-year extensions beyond that date, subject to specific conditions.
Besides the maturity extension, other amendments were made principally to ensure AT&T's compliance with various regulatory requirements.