Bidders for Spain's MasMovil secure increased financing package

FILE PHOTO: A balloon with the logo of Masmovil is seen during its bourse debut in Madrid, Spain, July 14, 2017. REUTERS/Juan Medina/File Photo

MADRID (Reuters) - A consortium bidding to buy Spanish telecoms operator MasMovil MASM.MC secured a loan of 2 billion euros ($2.25 billion) to finance the deal, according to a term sheet from one of the lead managing banks.

The seven-year loan, which private equity firms Cinven, KKR KKR.N and Providence aim to use the finance the bid, was increased in size from an originally targeted 1.5 billion euros.

Barclays BARC.L , BNP Paribas BNPP.PA, Morgan Stanley MS.N and Deutsche Bank DBKGn.DE, acted as joint global coordinators, while Credit Agricole CAGR.PA, Mizuho and Santander SAN.MC were bookrunners.

Reporting by Isla Binnie; editing by Jesús Aguado