Telefonica SA Issue of Debt (6783M)
17 Settembre 2019 - 6:43PM
UK Regulatory
TIDM0TDE
RNS Number : 6783M
Telefonica SA
17 September 2019
TELEFÓNICA, S.A., in compliance with the Securities Market
legislation, hereby communicates the following
INSIDE INFORMATION
TELEFÓNICA EUROPE B.V. (the "Issuer"), the Dutch subsidiary of
Telefónica, S.A., has today priced and closed the terms and
conditions of an issuance of Undated Deeply Subordinated Guaranteed
Fixed Rate Reset Securities, with the subordinated guarantee of
Telefónica, S.A., for an aggregate nominal amount of 500 million
euros subject to a call option exercisable by the Issuer from the
eighth anniversary of the issuance date (the "Securities").
The main terms and conditions of the Securities are as
follows:
The issue price of the Securities is fixed at 100% of the
principal amount. The Securities will bear interest at a rate of
2.875% per annum from (and including) the issue date up to (but
excluding) 24 September 2027.
From (and including) 24 September 2027, the Securities will bear
a fixed rate of interest equal to the applicable 8 year swap rate
plus a margin of:
-- 3.071% per annum from 24 September 2027 up to (but excluding) 24 September 2029;
-- 3.321% per annum from 24 September 2029 up to (but excluding) 24 September 2047; and
-- 4.071% per annum from (and including) 24 September 2047.
The Securities will have a face value of 100,000 euros each and
will be perpetual, although they will be subject to a call option
exercisable by the Issuer on certain dates and at any time upon the
occurrence of certain circumstances as set out in the terms and
conditions of the Securities. The Issuer may defer payment of the
interest accrued on the Securities at its sole discretion (the
"Deferred Interest") without triggering an event of default. The
Deferred Interest will in turn accrue interest and will be payable
at the option of the Issuer at any time or on a mandatory basis in
certain circumstances as set out in the terms and conditions of the
Securities.
The Securities will be governed by English Law, and it is
expected that they will be listed and admitted to trading on the
regulated market of The Irish Stock Exchange plc, trading as
Euronext Dublin.
The issue is addressed exclusively at professional investors and
eligible counterparties.
The Securities will be subscribed for and paid up on the closing
date, which is envisaged to take place on or about 24 September
2019, subject to entering into a subscription agreement with the
joint bookrunners appointed for the issuance and the rest of the
agreements relating to the issue, and subject to compliance with
the conditions set out in the subscription agreement.
Madrid, 17 September 2019.
This announcement is neither an offer to sell nor a solicitation
of an offer to buy any of the securities referred to herein and
shall not constitute an offer, solicitation nor sale in any
jurisdiction in which such offer, solicitation or sale is unlawful
- including but not limited to the United States, its territories
and possessions (the "United States"), Australia, Canada or
Japan-.
The securities referred to herein have not been and will not be
registered under the United States Securities Act of 1933
("Securities Act"), as amended, or any state securities laws, and
may not be offered or sold in the United States absent registration
or pursuant to an exemption from the registration requirements of
the Securities Act and in accordance with applicable state
securities laws.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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(END) Dow Jones Newswires
September 17, 2019 12:43 ET (16:43 GMT)