France’s Iliad has successfully placed a €650m (US$688m) bond, less than ten days after winning spectrum in the country’s 700MHz auction.
French challenger Iliad, which operates as Free, has placed €650m of seven-year bonds due 2022 with a 2.125% interest rate.
The group, which indicated that it had sought to take advantage of favourable market conditions, said the bond issue was over three times oversubscribed.
Iliad won 2x 5MHz blocks of spectrum in this month’s 700MHz auction, which raised €2.8bn for the French state.
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