Telefonica calls €473.3 million 6.5% subordinated perpetuals at par

By Susanna Moon

Chicago, July 27 – Telefonica Europe BV issued a redemption notice for its €473.3 million of outstanding €1,125,000,000 undated five-year non-call deeply subordinated guaranteed fixed-rate reset securities with a current coupon of 6.5% and first reset date of Sept. 18, 2018.

The notes will be redeemed on Sept. 18 at par plus accrued interest, according to the notice.

The notes are guaranteed on a subordinated basis by Telefonica, SA.

The issuer previously said that holders had tendered €651.7 million of those notes in the offer that ended at 11 a.m. ET on March 20.

As announced March 13, Telefonica was tendering for six series of notes, including any and all of the 6.5% perpetuals at a purchase price of €103,187.67 per €100,000.

Telefonica Europe BV is based in Amsterdam and provides financing for Telefonica SA, a telecommunications group based in Madrid.

© 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.