Spain’s Telefonica Emisiones to offer senior notes in two tranches

By Devika Patel

Knoxville, Tenn., March 1 – Telefonica Emisiones SAU is expected to price fixed-rate senior notes in two tranches, according to a 424B5 filing with the Securities and Exchange Commission.

The notes are guaranteed by Telefonica SA.

The notes may be redeemed at the greater of par plus interest and a make-whole call.

Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Goldman Sachs & Co., HSBC Securities (USA) Inc., J.P. Morgan Securities LLC, Mizuho Securities USA Inc., BBVA Securities Inc., BNP Paribas Securities Corp. and Santander Investment Securities Inc. are the bookrunners.

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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