Portugal Telecom (PT) has decided to exercise an option to increase its 6.25% note issue from €250m to €400m.
The four-year bond, initially announced at the end of June, is part of a more prudent strategy by PT to improve the company’s debt…
Portugal Telecom (PT) has decided to exercise an option to increase its 6.25% note issue from €250m to €400m.
The four-year bond, initially announced at the end of June, is part of a more prudent strategy by PT to improve the company’s debt maturity profile.
The offering closes on 20 July and all the other terms of the issuance remain unchanged.
When the initial €250m notes were issued, along with other refinancing measures, PT said: “As a result of these measures, PT has maintained its commitment to preserving an attractive shareholder remuneration policy combined with a more prudent deleveraging and debt maturity profile.”
