Spanish incumbent Telefonica has priced a 15-year €800m (US$1.01bn) bond at par.
Launched under the Madrid-based company’s EMTN programme, the notes carry a coupon of 2.932%, have a reoffer price of 100% and mature in October 2029, according to a…
Spanish incumbent Telefonica has priced a 15-year €800m (US$1.01bn) bond at par.
Launched under the Madrid-based company’s EMTN programme, the notes carry a coupon of 2.932%, have a reoffer price of 100% and mature in October 2029, according to a company statement.
Settlement and closing are set for 17 October.
Lead managers for the issue were BBVA, Credit Agricole, CaixaBank, Mitsubishi UFJ, RBS and Santander.
Moody’s has rated the bond Baaa2, while Standard & Poor’s and Fitch gave a BBB.
In mid-September, Telefonica issued €1.5bn worth of convertible notes to help finance its €8.6bn takeover of German mobile operator E-Plus.
Also in September, Telefonica agreed a €7.24bn cash-and-stock deal to purchase Vivendi’s Brazilian broadband unit GVT. The telco will fund the cash component of the deal with a capital increase at its Brazilian mobile unit Vivo. It will subscribe to this to keep its current 74% stake, funding this, in turn, with a capital increase at group level.
