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General

Cellnex launches EUR 500 mln bond issue

Monday 8 January 2018 | 11:02 CET | News
Spanish operator Cellnex Telecom has announced the issue of EUR 500 million in senior bonds convertible into new or existing ordinary shares, with shareholders having no preferred subscription right. In a statement to Spanish market regulator CNMV, the company said it was taking advantage of favourable market conditions to issue its first convertible bond with a view to diversifying its funding sources. Cellnex said it also aimed to increase its average debt maturity by issuing a new long term instrument at a cost materially lower than its current average cost of borrowing.

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Categories: General
Companies: Cellnex
Countries: Spain
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