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General

Telefonica Europe issues EUR 1 bln hybrid bond

Friday 9 September 2016 | 08:49 CET | News
Telefonica Europe has announced the issue of EUR 1 billion worth of undated 5.5-year deeply subordinated, guaranteed fixed rate reset securities fully and unconditionally guaranteed by Telefonica on a subordinated basis. In a statement to Spanish market regulator CNMV, the company said it will use the hybrid debt to strengthen its financial ratios as well as to refinance debt and preserve its liquidity cushion. The securities will accrue interest at a rate of 3.75 percent annually as from (and including) the issue date up to 15 March 2022.

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Categories: General
Companies: Telefonica
Countries: World
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