{"id":4782,"date":"2020-04-07T20:20:12","date_gmt":"2020-04-07T20:20:12","guid":{"rendered":"https:\/\/www.mobileworldlive.com\/?p=276651"},"modified":"2020-04-07T20:20:12","modified_gmt":"2020-04-07T20:20:12","slug":"att-gets-major-cash-injection","status":"publish","type":"post","link":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/2020\/04\/07\/att-gets-major-cash-injection\/","title":{"rendered":"AT&T gets major cash injection"},"content":{"rendered":"

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\tAT&T borrowed $5.5 billion to boost its short-term cash flow, but reassured investors its business remains strong despite pressure related to the Covid-19 (coronavirus) pandemic.<\/p>\n

The operator noted in a filing to the Securities and Exchange Commission the money will be used for \u201cgeneral corporate purposes,\u201d and must be repaid by 31 December. Financing was provided by a dozen banks, including Bank of America, CitiBank and Goldman Sachs.<\/p>\n

In a related press release it said the loan will supplement the nearly $12 billion cash on hand it had at 31 December 2019, providing \u201cadditional financial flexibility\u201d during the crisis.<\/p>\n

AT&T was forced to close a large portion [1] of its retail stores in response to the pandemic in March and, along with several other US operators, pledged not to disconnect customers due to non-payment during the pandemic.<\/p>\n

Looking ahead, the operator said it expects its core subscription businesses and cost-reduction efforts [2] will yield enough cash to sustain continued network investments, dividend and debt payments, and investments in new opportunities as the economy recovers.<\/p>\n

The company also highlighted strength in its supply chain, noting it expects \u201climited\u201d exposure to near-term equipment shortages.<\/p>\n

Further details about the pandemic’s impact on the operator are expected to be revealed when it reports Q1 earnings on 22 April.<\/p>\n

[1] https:\/\/www.mobileworldlive.com\/blog\/covid-19-industry-impact-february-to-march\/
\n[2] https:\/\/www.mobileworldlive.com\/featured-content\/top-three\/att-refocuses-cost-reduction-targets\/<\/p>\n\n

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AT&T borrowed $5.5 billion to boost its short-term cash flow, but reassured investors its business …<\/p>\n

The post AT&T gets major cash injection<\/a> appeared first on Mobile World Live<\/a>.<\/p>\n<\/div>","protected":false},"author":245,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"slim_seo":{"title":"AT&T gets major cash injection - ITTeacherITFreelance.hk","description":"AT&T borrowed $5.5 billion to boost its short-term cash flow, but reassured investors its business ... The post AT&T gets major cash injection appeared"},"footnotes":""},"categories":[11,8],"tags":[1820,1821],"_links":{"self":[{"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/posts\/4782"}],"collection":[{"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/users\/245"}],"replies":[{"embeddable":true,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/comments?post=4782"}],"version-history":[{"count":1,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/posts\/4782\/revisions"}],"predecessor-version":[{"id":4783,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/posts\/4782\/revisions\/4783"}],"wp:attachment":[{"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/media?parent=4782"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/categories?post=4782"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/tags?post=4782"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}