UK mobile operator Everything Everywhere has priced £450m (US$710.79m) worth of seven-year notes in its second bond issue since becoming an independent financial entity.
The offering, which is part of the company’s euro medium term note…
UK mobile operator Everything Everywhere has priced £450m (US$710.79m) worth of seven-year notes in its second bond issue since becoming an independent financial entity.
The offering, which is part of the company’s euro medium term note programme, has a coupon rate of 4.375% and a re-offer spread of 275 basis points. Settlement of the offering is expected to take place on 28 March.
HSBC, JP Morgan, Lloyds Bank and RBS acted as bookrunners for the transaction.
In an email to TelecomFinance, a spokesperson said the proceeds will be used for general corporate purposes and investment, “including but not limited to repayment of shareholder loans”.
In late February, it was reported that the company may place a bond this year, specifically to finance a bid in the country’s upcoming 4G auction.
Everything Everywhere, a joint venture between Deutsche Telecom and France Telecom, announced its first bank facilities as an independent financial entity in late 2011 when it secured a revolver and a term loan for a combined £875m (US$1.39bn).
In early February, it launched its first €500m (US$659m) bond issue under its euro medium term note programme.
