AT&T replaces $30 billion bridge loan with permanent financing

By Marisa Wong

Morgantown, W.Va., Aug. 7 – AT&T Inc. terminated its $30 billion bridge loan on Monday, according to an 8-K filing with the Securities and Exchange Commission.

The company had originally entered into a $40 billion term loan in October 2016 and later split the credit agreement into the $30 billion bridge loan and a $10 billion term loan.

In June, the commitments under the bridge loan were reduced to $21 billion, after the company settled a €7 billion multi-tranche offering of senior notes.

On Monday, the company settled another offering of global senior notes, totaling $22.5 billion.

The loans were originally intended to help finance the company’s merger with Time Warner Inc. and to refinance Time Warner’s debt.

AT&T is a Dallas-based telecommunications company. Time Warner is a media company based in New York.

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