0
General

TIM converts EUR 1.3 bln bond into 1.7 bln new shares

Monday 14 November 2016 | 08:32 CET | News
TIM (Telecom Italia) has announced that on 15 November a EUR 1.3 billion guaranteed subordinated mandatory convertible bond due this year will convert into 1.7 billion newly-issued Telecom Italia ordinary shares. The new shares are equivalent to around 11.2 percent of the ordinary share capital of the group, or 8 percent on a fully diluted basis, with the transaction expected to help reduce Telecom Italia's debt by EUR 1.3 billion to EUR 25.4 billion. BNP Paribas has been appointed as the financial adviser for the sale of the new shares.

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.

Subscriptions

Already registered?



Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Categories: General
Companies: Telecom Italia / TIM
Countries: Italy
::: add a comment

Add comment

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Related

TIM issues EUR 750 mln 7-year bond

Published 22 Jun 2018 14:46 CET | Italy
Telecom Italia (TIM) has announced the successful issue of a EUR 750 million fixed-rate bond to institutional investors, the ...

Telecom Italia issues EUR 1.25 billion 10-year bond

Published 06 Oct 2017 15:11 CET | Italy
Telecom Italia (TIM) has announced the successful issue of a EUR 1.25 billion fixed rate bond to institutional investors. The ...

Telecom Italia issues EUR 1 bln long-term bond

Published 13 Jan 2017 08:29 CET | Italy
Telecom Italia has announced the successful issue of a EUR 1 billion fixed rate bond to institutional investors. The company said ...

Vivendi's Telecom Italia stake up above 24% again

Published 07 Dec 2016 09:07 CET | Italy
The controlling stake in Telecom Italia held by Vivendi increased to 24.19 percent on 05 December compared to 23.15 percent on 23 ...

Vivendi buys more TIM shares to increase stake to 23.15%

Published 23 Nov 2016 10:44 CET | Italy
French media conglomerate Vivendi has announced the purchase of further ordinary shares in Telecom Italia (TIM) following the ...

Vivendi's Telecom Italia stake below 22% after conversion

Published 14 Nov 2016 15:33 CET | Italy
The controlling stake in Telecom Italia held by French media conglomerate Vivendi will fall from 24.6 percent to just under 22 ...

Telecom Italia issues EUR 1 billion 9-year bond

Published 26 Sep 2016 08:31 CET | Italy
Telecom Italia (TIM) has announced the successful issue of a EUR 1 billion fixed rate bond to institutional investors. The ...

Telecom Italia issues EUR 1 bln 10-year bond

Published 19 May 2016 08:52 CET | Italy
Telecom Italia has announced the successful issue of a EUR 1 billion fixed rate bond to institutional investors. The company said ...

Telecom Italia issues EUR 750 mln 8-year bond

Published 14 Jan 2016 08:39 CET | Italy
Telecom Italia has announced the successful issue of a EUR 750 million fixed rate bond to institutional investors. The company ...

Telecom Italia finalises USD, EUR buyback

Published 17 Jul 2015 08:35 CET | Italy
Telecom Italia has announced the final results of a dollar and euro note buyback. The company said it will repurchase around EUR ...