Vodafone Group launches $2 billion offering of five-, 10-year notes

By Andrea Heisinger

New York, Sept. 19 - Vodafone Group plc launched a $2 billion offering of notes (A3/A-/) in two tranches on Wednesday, an informed source said.

The offering includes $1 billion of five-year notes launched at 62.5 basis points over Treasuries and $1 billion of 10-year notes launched at 87.5 bps over Treasuries.

Each of the tranches is pricing tighter than talk. Guidance for the five-year notes was in the 72.5 bps area, plus or minus 2.5 bps, and the 10-year notes were talked in the 100 bps area.

The telecommunications company is based in London.

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