French telecommunications equipment maker Alcatel this week plans to begin a five-year, €1 billion bond issue, a company spokesman said today.
Alcatel's debt increased from €4.17 billion on March 31st to €5.46 billion in late October, amounting to 49 per cent of shareholder equity.
The company wants to cut its debt to €4 billion by the end of the year through restructuring.
The transaction is to be managed by ABN Amro, BNP Paribas, JP Morgan and Société Générale, according to a source.
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AFP