Incumbent France Telecom has closed a E670m bond issue, the company announced. It said it was looking to take advantage of the fall in interest rates since mid-April.
The dual-tranche, euro-denominated transaction is aimed at increasing the size of…
Incumbent France Telecom has closed a E670m bond issue, the company announced. It said it was looking to take advantage of the fall in interest rates since mid-April.
The dual-tranche, euro-denominated transaction is aimed at increasing the size of existing outstanding bonds maturing in January 2019 and January 2021 to a respective E750m and E1.25bn to enhance liquidity on the secondary market.
The 3.936% E170m portion of the deal is due in January 2019, with a reoffer spread of 85 basis points over mid-swaps; while the 4.219% E500m notes are due in January 2021 with a reoffer spread of 93 basis points over mid-swaps.
Barclays, Credit Agricole, Goldman Sachs and Santander acted as bookrunners.
