Telefonica has priced €1.25bn of 2.242% eight-year notes at par under its euro medium term note programme, according to a stock exchange filing.
The lead managers on the issue are BayernLB, BNP Paribas, Citigroup, Commerzbank, Credit Suisse, Lloyds…
Telefonica has priced €1.25bn of 2.242% eight-year notes at par under its euro medium term note programme, according to a stock exchange filing.
The lead managers on the issue are BayernLB, BNP Paribas, Citigroup, Commerzbank, Credit Suisse, Lloyds and Mitsubishi.
Proceeds from the offering will be used for refinancing and the notes were rated Baa2, BBB and BBB+ by Moody’s, S&P and Fitch respectively. The offering is set to close on 27 May.
This is the Spanish incumbent’s second bond offering of the year. In March it raised €1.75bn by issuing a dual-tranche hybrid. Meanwhile in January it secured a €3bn syndicated loan to refinance debt it raised to fund its takeover of Vivo in 2010.
Telefonica is currently attempting to gain control of Spanish DTH operator Distribuidora de Television Digital, better known as Canal+, for €725m. The incumbent telco has lodged a bid, however fellow minority shareholder Mediaset is rumoured to consider a counter bid for the pay-TV company.
