Deutsche Telekom has priced its second sizeable eurobond in a week – this time for €500m (US$651m).
The new issue priced at 99.716, 65 basis points over midswaps, a company spokesperson confirmed.
Issued by wholly-owned subsidiary Deutsche Telekom…
Deutsche Telekom has priced its second sizeable eurobond in a week – this time for €500m (US$651m).
The new issue priced at 99.716, 65 basis points over midswaps, a company spokesperson confirmed.
Issued by wholly-owned subsidiary Deutsche Telekom International Finance, the bond carries a coupon of 2% and matures on 30 October 2019. The transaction’s purpose is for general corporate funding, the spokesperson said.
The lead managers for the issue are Barclays, Citi and RBS.
Fitch and Standard & Poor’s have rated the issue BBB+, while Moody’s has rated it Baaa1.
Last Wednesday, the company priced a €650m (US$852.8m) 12-year eurobond – its first sale of benchmark bonds in euros since July 2010.
Asked about the timing of the two bonds, the spokesperson said: “We make use of windows of opportunity and favourable conditions”.
