Ann: GENERAL: TEL: Telecom extends and reduces st

NZX News

15/04/14

10:40

Post #: 13252522

Release Date: 15/04/14 14:40
Summary: GENERAL: TEL: Telecom extends and reduces standby facility
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					TEL
15/04/2014 12:40
GENERAL

REL: 1240 HRS Telecom Corporation of New Zealand Limited

GENERAL: TEL: Telecom extends and reduces standby facility

Market Release

15 April 2014

Telecom extends and reduces standby facility

Telecom has today announced that it has reduced its NZ$400 million committed
standby revolving credit facility ("Standby") to NZ$300 million.  Also, the
Standby has been extended a further year, to mature on 14 April 2017.

The facility is provided through participation from Australasian and global
banks.

"The agreement of this facility helps to ensure Telecom has sufficient
liquidity to meet its business needs over the next three years," said Jolie
Hodson, Telecom CFO.

"Telecom remains committed to an A band credit rating."

- ENDS -

For media queries, please contact:
Richard Llewellyn
Head of Corporate Communications
+64 (0) 27 523 2362

For investor relations queries, please contact:
Mark Laing
General Manager Corporate Finance
+64 (0) 27 227 5890
End CA:00249505 For:TEL    Type:GENERAL    Time:2014-04-15 12:40:22

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