18th Jun 2019 17:59
(Alliance News) - Vodafone Group PLC on Wednesday priced its tender cash offer for a series of loan notes, which together have a total outstanding principal amount of USD3.10 billion.
Last Wednesday, Vodafone launched an offer to purchase for cash its 4.375% notes due 2021, 2.50% notes due 2022 and 2.950% notes due 2023.
The 2021 notes have USD500.0 million outstanding, the 2022 notes USD1.00 billion and the 2023 have USD1.60 billion outstanding.
On Tuesday, Vodafone confirmed that for the 2021 notes the FTSE 100-listed firm will pay USD1,038.92 for each USD1,000 principal amount. For the 2022 notes, Vodafone will pay USD1,003.26 and USD1,015.26 for the 2023 notes.
The telecommunications firm said the purpose of the offer is to "extend the company's debt maturity profile in an efficient manner".
The offer will close later Tuesday.
Shares in Vodafone closed 1.4% higher on Tuesday at 129.18 pence each.
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