Spanish incumbent Telefonica has launched a €1.5bn offering of six-year notes, which has reportedly brought record demand from investors.
In a statement, Telefonica said that the notes pay an annual coupon of 4.797% and had a reoffer price of 100….
Spanish incumbent Telefonica has launched a €1.5bn offering of six-year notes, which has reportedly brought record demand from investors.
In a statement, Telefonica said that the notes pay an annual coupon of 4.797% and had a reoffer price of 100. They are due in 2018. The settlement and closing date has been scheduled for 21 February.
Spanish newspaper Expansion reported that Telefonica had received record demand of €10bn for the notes, with more than 600 investors making offers.
The notes have been launched under the Guaranteed Euro Medium Term Note Programme (EMTN) of the subsidiary Telefonica Emisiones.
A Telefonica spokeswoman told TelecomFinance that the bookrunners are Banesto, Citigroup, La Caixa, Mizuho, RBS, Santander and Unicredit.
She also said that the company would use the proceeds of the bond issue to refinance 2012 debt maturity payments.
