Portugal Telecom announces the successful issuance of a Euro 750 million Eurobond, with a maturity of 10 years, through its wholly-owned subsidiary PT International Finance BV with a spread of 145bp over the mid swaps of similar maturity. The coupon of this issue will be 5.0%.
This operation is integrated in the financing strategy of PT, which aims at having diversified maturities and sources of financing. The proceeds will be used to fund ongoing investment projects and to provide additional financial flexibility, by reducing the use of commercial paper and standby lines.
Barclays Capital, BES Investimento, Caixa BI, Santander and UBS were the book-runners of this transaction.
PT has a rating of Baa2/stable by Moody’s and BBB/stable by S&P.