| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers Tenders > Headlines for 2012 > News item |
Vodafone tenders for 5.75% convertibles issued by Cable & Wireless
By Susanna Moon
Chicago, May 21 - Vodafone Group plc subsidiary Vodafone Europe BV said it is offering to purchase the £230 million of 5.75% convertible bonds due 2014 issued by Cable & Wireless Worldwide plc.
The offer is connected to Vodafone's April 23 agreement to acquire Cable & Wireless, according to a company press release.
The purchase price will be set using the 5% U.K. Treasury Gilt due 2014 plus a spread of 190 basis points, subject to a floor of par.
The offer will end at noon ET on June 15, and pricing will be set at 9 a.m. ET on the day the merger condition is satisfied, the release noted.
Settlement will occur within 14 days of the merger.
The dealer managers are BNP Paribas (+44 0 20 7595 8668, attn: liability management desk, or e-mail liability.management@bnpparibas.com) and UBS Ltd. (+44 0 20 7567 0525, attn: liability management group, or e-mail OL-Liability-Management@ubs.com).
Lucid Issuer Services Ltd. (+44 0 20 7704 0880, attn: Paul Kamminga, or e-mail vodafone@lucid-is.com) is the offer agent.
Cable & Wireless and Vodafone are telecommunications companies based in London.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.