Bonds Mergers and Acquisitions Equity US deals of the year
SYNDICATED LOANS
AT&T and Chase flex their muscles
Issuer: AT&T
Type of deal: syndicated loan
Amount: $30 billion
Launched: April 20 1999
Arrangers: Chase Manhattan, Goldman Sachs
Anything Olivetti can do, AT&T can do bigger. In late April last year, the acquisitive American telecoms group assembled a loan facility of $30 billion in a mere three working days after launching an unsolicited takeover bid for cable group MediaOne.
In a curious contractual arrangement, MediaOne had agreed to merge with another cable company, Comcast, but negotiated the right to a 45-day pause in the deal to consider any rival offers that might arise.
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