Deutsche Telekom announces final results of 12-series tender offer

Chicago, Jan. 30 – Deutsche Telekom AG and Deutsche Telekom International Finance BV announced the final results from the cash tender offer for 12 series of notes, according to multiple announcements on Monday.

The company was offering to purchase up to a maximum of €2.25 billion principal amount of the notes.

The final acceptance amount is €2,675,082,091 with no pro rata scaling factor applied.

All valid tender instructions have been accepted.

The final tender results for the 12 series are the following, starting with Deutsche Telekom notes:

• €71,595,000 tendered and accepted of the €500 million 0.875% notes due March 25, 2026 (ISIN: DE000A2TSDD4), with the purchase price 94.076, based on the March 2026 notes interpolated mid-swap rate and a fixed spread of negative 25 basis points; and

• €243,095,000 tendered and accepted of the €1.25 billion 0.5% notes due July 5, 2027 (ISIN: XS2024715794), with the purchase price 90.167, based on the July 2027 notes interpolated mid-swap rate and a fixed spread of negative 10 bps.

The companies also reported the following results for the series issued by Deutsche Telekom International Finance:

• €635,064,000 tendered and accepted of the €1.75 billion 0.625% notes due April 3, 2023 (ISIN: XS1382792197), to be purchased at par;

• €416,134,000 tendered and accepted of the €1.25 billion 0.875% notes due Jan. 30, 2024 (ISIN: XS1557096267), to be purchased at 98.15;

• €58.68 million tendered and accepted of the €650 million 2.75% notes due Oct. 24, 2024 (ISIN: XS0847580353), with the purchase price 99.883, based on the October 2024 notes interpolated mid-swap rate and a fixed spread of negative 50 bps;

• €170,887,000 tendered and accepted of the €750 million 0.625% notes due Dec. 13, 2024 (ISIN: XS1732232340), with the purchase price 96.001, based on the December 2024 notes interpolated mid-swap rate and a fixed spread of negative 45 bps;

• €68,234,000 tendered and accepted of the €500 million 4.875% notes due April 22, 2025 (ISIN: XS0503603267), with the purchase price 104.356, based on the April 2025 notes interpolated mid-swap rate and a fixed spread of negative 45 bps;

• €284,244,000 tendered and accepted of the €1 billion 1.375% notes due Dec. 1, 2025 (ISIN: XS1828032786), with the purchase price 95.996, based on the December 2025 notes interpolated mid-swap rate and a fixed spread of negative 30 bps;

• €144,036,000 tendered and accepted of the €750 million 1.125% notes due May 22, 2026 (ISIN: XS1617898363), with the purchase price 94.317, based on the May 2026 notes interpolated mid-swap rate and a fixed spread of negative 15 bps;

• €311,469,000 tendered and accepted of the €1.25 billion 1.375% notes due Jan. 30, 2027 (ISIN: XS1557095616), with the purchase price 94.042, based on the January 2027 notes interpolated mid-swap rate and a fixed spread of negative 5 bps;

• £91,806,000 tendered and accepted of the £300 million 1.25% notes due Oct. 6, 2023 (ISIN: XS1501155748), to be purchased at 98.25; and

• £146,981,000 tendered and accepted of the £300 million 2.5% notes due Oct. 10, 2025 (ISIN: XS1892151348), with the purchase price 96.803, based on the 2% U.K. Treasury Gilt due Sept. 7, 2025 and a fixed spread of 50 bps.

The companies will also pay accrued interest for notes accepted for purchase.

The offer expired at 11 a.m. ET on Jan. 27.

Settlement is expected to occur on Feb. 1.

Banco Santander, SA (liabilitymanagement@santandercib.co.uk), Barclays Bank Ireland plc (+44 20 3134 8515; eu.lm@barclays.com) and NatWest Markets NV (+33 173 249 880; NWMLiabilityManagement@ natwestmarkets.com) are the dealer managers.

Kroll Issuer Services Ltd. (+44 20 7704 0880; attn.: Arlind Bytyqi / Owen Morris; deutschetelekom@is.kroll.com; https://deals.is.kroll.com/ deutschetelekom) is the tender agent.

The telecommunications company is based in Bonn, Germany.

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