Telefónica confirms bond plan, but refuses to name its price

13 Jul 2006

Spanish telecoms giant Telefónica has confirmed that it plans to issue bonds worth at least EUR500 million (USD640 million), a company spokesman said, confirming an earlier newspaper report. JP Morgan, Merrill Lynch and Credit Agricole will manage the sale, but the telco has yet to confirm the date or amount of the issue. The figure could actually be as high as EUR1 billion and take place within a week, according to international press reports, citing one of the firms managing the placement.

Spain, Telefonica