Telecom Italia issues EUR 2 bln equity-linked bond

Friday 20 March 2015 | 14:56 CET | News
Telecom Italia has announced the successful placement of an offering of EUR 2 billion in unsecured equity-linked bonds due on 26 March 2022. The bonds were offered to qualified institutional investors, with a coupon of between 1.125 percent a year, payable semi-annually starting in September. The conversion price will be set at a 70 percent premium above the volume-weighted average price of the shares on the Milan stock exchange on 20 March. The proceeds will be used to reduce Telecom Italia's debt and to finance its three-year EUR 14 billion business plan to expand fibre-optic and LTE

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Categories: General
Companies: Telecom Italia
Countries: Italy
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