British pounds

BNY Mellon appointed paying agent on hybrid bonds issued by Telefónica Europe

Wed, 15/01/2014 - 12:02

BNY Mellon has been appointed paying agent, common depositary and fiscal agent on a tranche of hybrid bonds issued by Telefónica Europe BV.

The hybrid bonds, which are deeply subordinated guaranteed fixed-rate reset securities, raised GBP600m and are unconditionally and irrevocably guaranteed on a subordinated basis by Telefónica, SA.
 
Telefónica’s hybrid bonds will pay 6.75 per cent interest per annum and have a non-call option for the first seven years which means the issuer can redeem them after this period.
 
“We have seen a recovery in the issuance of European corporate bonds recently, particularly in hybrid bonds,” says Dean Fletcher, head of EMEA corporate trust, BNY Mellon. “These are the first hybrid bonds issued in sterling by a Spanish company since the financial crisis. The fact the issuance was oversubscribed shows that there is strong demand for sterling denominated bonds from investors in the UK and elsewhere.”


Subscribe to free daily newsletter
latestjobs
Quantitative Trading Strategist | Front Office

Sat, 20 Dec 2014 00:00:00 GMT

Entry Level Financial Software Developer

Sat, 20 Dec 2014 00:00:00 GMT

C#.NET Developer – Quantitative Risk, Fixed Income

Sat, 20 Dec 2014 00:00:00 GMT

events
3 weeks 18 hours from now - New Orleans
4 weeks 2 days from now - Boston
4 weeks 2 days from now - New York
4 weeks 6 days from now - New York
specialreports