Incumbent Portugal Telecom has sold €1bn of seven-year notes.
The paper carries a coupon of 4.625% and was issued via its wholly-owned subsidiary PT International Finance BV.
“This transaction further enhances PT’s financial flexibility by…
Incumbent Portugal Telecom has sold €1bn of seven-year notes.
The paper carries a coupon of 4.625% and was issued via its wholly-owned subsidiary PT International Finance BV.
“This transaction further enhances PT’s financial flexibility by extending debt maturities that, in the current environment, substantially reduces financial risks,” the company said in a statement.
BofA Merrill Lynch, BNP Paribas, Caixa BI, Espirito Santo and HSBC were the bookrunners of this transaction.
The Lisbon-based telco last raised debt in October, selling €750m of 5.5-year 5.875% notes at 99.47. At the time the company said it was refinanced up until 2016.
PT offers triple play services in Portugal and offers services in a number of other countries, notably Brazil where it holds a significant stake in operator Oi.