Telefonica sells EUR 5.5 bln in hybrid bonds

News General Spain 16 MAR 2018
Telefonica sells EUR 5.5 bln in hybrid bonds
Telefonica Europe has announced the successful sale of EUR 5.5 billion worth of hybrid bonds, after over 30 national and international investors signed up to the issue for a period of 5 years, with an option to extend it another 2 years. In a statement to Spanish market regulator CNMV, the company confirmed that the new bonds replace 2 existing revolving credit facilities, one for EUR 3 billion maturing in February 2021 and another for EUR 2.5 billion maturing in February 2022. The issue was oversubscribed by some EUR 2.7 billion, said the company.

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