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Vodafone tenders for £300 million of 0% equity-linked bonds due 2020
By Susanna Moon
Chicago, Dec. 6 – Vodafone Group plc is offering to purchase up to about £300 million principal amount of its £600 million outstanding zero-coupon equity-linked bonds due 2020.
The tender is expected to close at 11:30 a.m. ET on Dec. 7.
The cash purchase price to be determined under a modified Dutch auction with HSBC Bank plc as the dealer manager.
The minimum purchase price will be £97,000 per £100,000 principal amount.
Vodafone is holding the offer “as part of an opportunistic liability management exercise,” according to an announcement.
Settlement is expected to occur on Dec. 12.
For more information, contact HSBC at +44 20 7991 5271 or tony.sand@hsbcib.com.
Vodaphone is a multinational telecommunications company based in London.
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