Spanish incumbent Telefonica plans to sell E1bn in bonds through subsidiary Telefonica Emisiones, with Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, Citi and Santander acting as bookrunners.
In a stock exchange announcement, Teleconica said that the…
Spanish incumbent Telefonica plans to sell E1bn in bonds through subsidiary Telefonica Emisiones, with Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, Citi and Santander acting as bookrunners.
In a stock exchange announcement, Teleconica said that the seven-year notes will pay an annual coupon of 3.661%, with a 100% reoffer price. The issue is scheduled for September 16. The notes is to help pay down debt due in 2011.
Speaking to TelecomFinance, a spokesperson for Telefonica described the transaction as “very well received”, with an opening order book that was over three times oversubscribed at around E3.2bn. Over 300 investors, mainly German, English and French, had expressed interest, she said.
The 3.661% coupon is the lowest 7-year deal to date for Telefonica.
