Vodafone to price dollar-denominated capital securities due 2079

By Cristal Cody

Tupelo, Miss., March 26 – Vodafone Group plc (Baa2/BBB+/BBB+) plans to price a dollar-denominated offering of capital securities due 2079, according to a 424B2 filing with the Securities and Exchange Commission on Tuesday.

The notes will reset in April 2029 to April 2049 at a rate equal to a rate plus the then five-year swap rate and will reset from April 2049 to April 2079 to a rate plus the then five-year swap rate.

BofA Merrill Lynch and RBC Capital Markets LLC are the bookrunners.

The notes will be callable at the first call date to the first reset date.

The deal includes a 101% change-of-control put.

Proceeds will be used for general corporate purposes, including financing the company’s acquisition of Liberty Global plc’s operations in Germany, the Czech Republic, Hungary and Romania.

The telecommunications company is based in London.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.