Telefónica issues bonds worth €2bn
Spanish operator is looking to alleviate more than €53bn of debts after axing Telxius listing
Telefónica has issued bonds worth €2 billion less than two weeks after it cancelled a listing of infrastructure subsidiary Telxius due to weak investor demand.
In a statement, the Spanish giant said bonds worth €1.25 billion would mature in 2020, with the rest set to mature in 2031.
Analysts at Spain’s Self Bank told The Local ES that the debt issuance would “compensate the lack of cash coming in” after Telefónica opted not list Telxius. The IPO had been forecast to raise around €1.2 billion.