Portugal Telecom (PT) has raised €400m (US$485m) from its fixed-rate, four-year bond issue, oversubscribed by €90m (US$109.1m).
Demand for the bonds, which have a fixed interest rate of 6.25%, reached €490m (US$594m), making it the largest ever…
Portugal Telecom (PT) has raised €400m (US$485m) from its fixed-rate, four-year bond issue, oversubscribed by €90m (US$109.1m).
Demand for the bonds, which have a fixed interest rate of 6.25%, reached €490m (US$594m), making it the largest ever public subscription offering in the Portuguese retail market, the Lisbon-based telco said in a statement.
Originally set at €250m, the issue, a result of PT’s new, more prudent financial strategy, was increased to €400m on 13 July.
The bonds will be issued tomorrow (26 July) and mature on 26 July 2016.
“With the issuance of the bond, PT reinforces its financial flexibility and has its funding needs, including the maturities and commitments, fully covered until the end of June 2016,” the company said.
