Indebted Spanish incumbent Telefonica has priced €1.5bn notes under its guaranteed Euro medium term note programme.
The notes, maturing in 2023 carry a coupon of 3.987% and have a reoffer price of 100%.
Caixa Bank, Goldman Sachs, Mizuho, RBS,…
Indebted Spanish incumbent Telefonica has priced €1.5bn notes under its guaranteed Euro medium term note programme.
The notes, maturing in 2023 carry a coupon of 3.987% and have a reoffer price of 100%.
Caixa Bank, Goldman Sachs, Mizuho, RBS, Santander and Unicredit are the lead managers.
In a statement Telefonica said it offered the notes through its wholly-owned subsidiary Telefonica Emisiones.
Telefonica reported net debt of €56bn at the end of Q3, down from €58bn the previous quarter.
The company has said it aimed to reduce its net debt to €50bn by the end of 2012 – it plans to release its full year results on 28 February.
As part of its debt-cutting measures Telefonica scrapped its dividend last July, refinanced bonds, disposed of assets and floated its German unit. The company is now plotting the flotation of its Latin American businesses.
