Swiss incumbent Swisscom has issued a €500m (US$689.2m) bond due 2021.
The bond carries a coupon of 1.875%, matures in September 2021 and priced at 99.076, or 58bps over mid-swaps, a company spokesperson confirmed.
Proceeds will be used for general…
Swiss incumbent Swisscom has issued a €500m (US$689.2m) bond due 2021.
The bond carries a coupon of 1.875%, matures in September 2021 and priced at 99.076, or 58bps over mid-swaps, a company spokesperson confirmed.
Proceeds will be used for general corporate purposes and to partly refinance a SFr1.25bn (US$1.42bn) bond set to mature on 8 April 2014.
Carried out via subsidiary Lunar Funding, the bond will be listed on the Irish Stock Exchange.
Lead managers for the issue were LBBW, Royal Bank of Scotland and Unicredit.
Swisscom CFO Mario Rossi said recently that the company has SFr1.6bn-1.7bn (US$1.8bn-1.9bn) to spend on acquisitions in Switzerland and Italy, adding that smaller companies, particularly IT service providers, are of interest.
While media have speculated that UK-based Vodafone may target its Italian triple-play unit Fastweb, Rossi said there are no plans to sell the business.
The Swiss incumbent issued another €500m bond last September, which carries a 2% coupon and matures in 2020.
Swisscom reported net debt of SFr7.8bn (US$8.8bn) as of 31 December 2013, of which bonds accounted for SFr5.5bn (US$6.2bn).
