SOUTH Africa’s telecommunications operator Telkom has launched a $250m one-year revolving credit facility in the euro-syndicated market to restructure existing group indebtedness and for general corporate purposes. The tenor of the facility is one-year, with a 15-month term out option, Telkom said in a statement. The deal is being managed by Credit Agricole Indosuez and Deutsche Bank AG, the company said. Telkom is 30% owned by US-based SBC Communications and Telekom Malaysia, and the government plans to sell part of its majority stake through an initial public offering in 2001. Telkom is currently rated Baa3 by Moody’s and BBB- by Standard and Poor’s. – Reuters
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