Australian incumbent Telstra is in discussions with European investors about a 10-year euro-denominated bond, according to a fund manager cited by Reuters.
HSBC, Deutsche Bank and BNP Paribas reportedly hosted a call with European bond investors…
Australian incumbent Telstra is in discussions with European investors about a 10-year euro-denominated bond, according to a fund manager cited by Reuters.
HSBC, Deutsche Bank and BNP Paribas reportedly hosted a call with European bond investors yesterday.
In a separate report, Future Fund, Australia’s state wealth fund, has announced today it sold 113.6 million Telstra shares on the market.
Future Fund – which still remains the company’s largest shareholder – sold the shares for A$2.66 each between September 29 and October 19, decreasing the fund’s holding to 10% from 10.9%. This is not the first time that Future Fund is reducing its holding in Telstra. In 2009, it sold 684.4 million for A$3.47 each.
“The Board continually assesses its overall portfolio and took the view that conditions were appropriate for it to reduce its overweight Telstra holding by selling on-market. Relevant considerations included the expiry in February 2010 of the Board’s self-imposed lock-up, equity market conditions and liquidity and the assessment of alternative investment opportunities,” wrote Future Fund in a statement. “The Board intends to continue rebalancing its portfolio in an orderly manner over the medium term.”
