(Updates with arrangers in second paragraph.)
Dec. 19 (Bloomberg) -- AT&T Inc., the nation’s second- largest wireless operator, entered into a new $5 billion 364-day revolving line of credit and extended for one-year an existing $5 billion four-year credit pact.
Citigroup Inc., JPMorgan Chase & Co., Barclays Plc and Bank of America Corp. arranged both facilities, the Dallas-based company said today in a regulatory filing.
AT&T’s existing unsecured revolver will now mature in Dec. 2015 and the companie’s new 364-day facility will replace an existing one that was due to expire. As of Sept. 30 AT&T had no borrowings under either deals, according to data compiled by Bloomberg.
Fletcher Cook, a spokesman for AT&T, didn’t respond to an e-mail seeking comment.
In a revolving credit facility, money can be borrowed again once it’s repaid; in a term loan, it can’t.
--Editors: Faris Khan, John Parry
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