Telefonica has issued an eight-year eurobond valued at £700m (€825.6m or US$1.1bn) via its Telefonica Emisiones subsidiary.
The telecom operator said in a statement the notes, issued under its Guaranteed Euro Medium Term Note (EMTN) Programme, pay…
Telefonica has issued an eight-year eurobond valued at £700m (€825.6m or US$1.1bn) via its Telefonica Emisiones subsidiary.
The telecom operator said in a statement the notes, issued under its Guaranteed Euro Medium Term Note (EMTN) Programme, pay an annual coupon of 5.597% and have a reoffer price of 100%. They are due in March 2020.
Settlement is set to take place on 12 March, the company said.
Moody’s has rated the issue ‘Baa1’, while Standard & Poor’s and Fitch have rated it ‘BBB+’.
According to Dow Jones, the lead managers for the transaction were HSBC, Lloyds and UBS.
Telefonica’s last issue under the EMTN Programme – €1.5bn of six-year notes launched in early February – reportedly attracted record demand from investors.
Spanish newspaper Expansion reported the operator received €10bn for the notes, with more than 600 investors making offers.
