Telefónica to launch EUR5.5 billion bond sale

17 Jan 2006

Spanish telecoms giant Telefónica has set price guidance for the biggest European corporate bond sale the market has seen in two years. The company aims to raise around EUR5.5 billion (USD6.7 billion) from the sale, which will be split between two currencies into four tranches. The bulk of the proceeds will be put towards refinancing loans negotiated to cover the purchase of UK-based mobile group O2.

Spain, Telefonica, Telefonica O2 Europe