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Ericsson cancels USD 600 million revolving credit facility
December 7, 2004, 11:00 (CET)
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.
Ericsson is shaping the future of Mobile and Broadband Internet communications through its continuous technology leadership. Providing innovative solutions in more than 140 countries, Ericsson is helping to create the most powerful communication companies in the world.
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