Spain's Telefonica Emisiones to tap market for senior notes due 2018, 2023 on Wednesday

By Andrea Heisinger

New York, April 17 - Telefonica Emisiones SAU is expected to price senior notes (Baa2/BBB/BBB+) in two tranches on Wednesday, according to a 424B5 filing with the Securities and Exchange Commission.

A market source said there will be maturities of five years and 10 years, both fixed rate.

The notes are guaranteed by Telefonica SA.

BNP Paribas Securities Corp., Goldman Sachs & Co. and HSBC Securities (USA) Inc. are the active bookrunners. Passive bookrunners are J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and SG Americas Securities LLC.

Proceeds will be deposited with Telefonica SA to be used for general corporate purposes.

The telecommunications group is based in Madrid.

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