Ericsson cancels USD 600 million revolving credit facility
The facility was established to provide financing for general corporate purposes or as a backstop facility to support existing commercial paper programmes.
"We adjust our backstop facilities to better reflect our needs at the present level of business activities, the strong financial position and that there is no need for short-term funding," says Karl-Henrik Sundström, Executive Vice President and Chief Financial Officer. "Our commercial paper programs remain unutilized. Cancelling this facility will also be a significant cost saving."
Ericsson will retain its USD 1 billion 2007 committed credit facility.
The cancellation will take effect on December 16, 2004.
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