Telefonica Emisiones plans to offer senior notes in two parts

By Devika Patel

Knoxville, Tenn., Feb. 26 – Telefonica Emisiones SAU is expected to price dollar-denominated 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.

Barclays, BofA Merrill Lynch, Commerz Markets LLC, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Mizuho Securities USA Inc. and Morgan Stanley & Co. LLC 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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