Medi Telecom seals $600mn refinancing

Published: January 31, 2011

Company agrees syndicated loan with nine banks.

Morocco’s Médi Telecom has refinanced €450mn (US$600mn) in local debt by arranging a new syndicated loan with local banks.

Banks involved in the refinancing were BMCE Bank, Attijariwafa bank, CDG Capital, Banque Centrale Populaire, Crédit Immobilier et Hôtelier, Société Générale, BMCI, Crédit du Maroc, Crédit Agricole. The deal, one of the largest in Morocco in recent years, allows the telecom company to renegotiate the conditions under which its initial loan was granted.

Law firm Gide Loyrette Nouel advised Médi Telecom. Clifford Chance advised the lenders.