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Telenor launches note buyback
Telenor launched a tender offer to buy back two outstanding E500m floating rate notes, which expire in 2011 and 2012 respectively.
In the first offer, which expires on March 17, Telenor is offering to pay holders of the 2011 notes E1006.10 per E1,000 in…
Telenor launched a tender offer to buy back two outstanding E500m floating rate notes, which expire in 2011 and 2012 respectively.
In the first offer, which expires on March 17, Telenor is offering to pay holders of the 2011 notes E1006.10 per E1,000 in nominal amount.
Meanwhile, the price for the 2012 notes will be determined by reference to the Interpolated Mid-Swap Rate- 15bp if the owners sell by March 17, or at a rate of 5bp if they accept by March 25.
Deutsche Bank and ING will manage the transaction, while Deutsche Bank is also a tender agent. Pricing is due to take place on March 30, Telenor said in statements to the Luxembourg stock exchange.
