Vodafone to redeem about $5.65 billion of seven note series in March

By Susanna Moon

Chicago, Feb. 24 - Vodafone Group plc said it will redeem about $5.65 billion of seven series of notes at a price of at least par on March 26.

The company will redeem its $1.25 billion of 4.15% notes due June 10, 2014, $900 million of 5.375% notes due Jan. 30, 2015, $750 million of 5% notes due Sept. 15, 2015, $500 million of 3.375% notes due Nov. 24, 2015, $900 million 0.9% notes due Feb. 19, 2016, $750 million of 5.75% notes due March 15, 2016 and $600 million of 2.875% notes due March 16, 2016.

The redemption price will be the greater of par and a price set using the sum of the present values of the remaining scheduled payments of principal and interest on the notes, excluding any portion of the payments of interest accrued as of the redemption date, discounted to the redemption date on a semi-annual basis (assuming a 360-day year consisting of 12 30-day months) at the adjusted Treasury rate, according to a company press release.

Holders also will receive accrued interest to the redemption date.

The redemptions will be funded with cash received in connection with the completion of the sale by Vodafone of its U.S. group whose principal asset is its 45% interest in Verizon Wireless.

The Bank of New York Mellon is the trustee.

Vodafone is a London-based telecommunications company.

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