Alcatel shares jump after it unveils new credit line

Shares in the telecommunications equipment group Alcatel-Lucent leapt by 11.72 percent to 0.96 euros in early Paris trading on Friday after it announced an agreement on a major line of credit to stabilise its operations.

Alcatel-Lucent said it had obtained 1.6 billion euros ($2.1 billion) in credit from Credit Suisse and Goldman Sachs for a period of up to six years.

The company plans to use the credit to stretch the maturity of its existing debt over several years, chief executive Ben Verwaayen said in a statement.

Alcatel will now have more room to implement a cost-cutting plan worth 1.25 billion euros.

sde/wai/yad

--

Get stories like this on the Yahoo app and discover more every day.
Download it now.
Loading...
 
Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.4060-0.0058-0.41%
    USDSGD=X
    1.5858+0.0033+0.21%
    EURSGD=X
    2.1655-0.0009-0.04%
    GBPSGD=X
    85.7016-0.1741-0.20%
    SGDJPY=X
    5.5121+0.0225+0.41%
    SGDHKD=X
    2.9817+0.0159+0.54%
    SGDMYR=X
    10,011.7373+63.7295+0.64%
    SGDIDR=X
    4.5284+0.012+0.26%
    SGDCNY=X
    1.0020-0.0018-0.18%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,141.50+9.00+0.79%
    GCZ15.CMX
    14.66+0.07+0.51%
    SIZ15.CMX
    48.43-0.40-0.81%
    ^XAU
    2.33-0.01-0.26%
    HGZ15.CMX
    47.71-1.49-3.03%
    CLV15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.54+0.02
    ^FVX
    2.20+0.01
    ^TNX
    2.93+0.02
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.135+0.005+3.85%
    5DN.SI
    0.310.000.00%
    5WA.SI
    0.535-0.010-1.83%
    N21.SI
    0.73+0.01+1.39%
    5ME.SI
    0.76-0.01-1.30%
    G13.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.26+0.02+10.64%
    L38.SI
    0.250.000.00%
    UQ4.SI
    0.22+0.02+10.00%
    AZR.SI
    0.22+0.02+10.00%
    GG7.SI
    0.280.00+1.82%
    AWO.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.09-0.02-18.18%
    40R.SI
    0.205-0.045-18.00%
    5NF.SI
    0.147-0.008-5.16%
    UV1.SI
    0.40-0.04-9.09%
    MN5.SI
    0.31-0.02-6.06%
    P9D.SI