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Vodafone holds fixed income investor calls for dollar-denominated capital securities due 2079
By Cristal Cody
Tupelo, Miss., March 27 – Vodafone Group plc (Baa2/BBB+/BBB+) held fixed income investor calls on Tuesday for a previously reported dollar-denominated offering of capital securities due 2079, according to a market source.
The rate on the notes will reset from April 2029 to April 2049 and from April 2049 to April 2079.
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.
The offering is registered with the Securities and Exchange Commission.
Proceeds will be used for general corporate purposes, including to finance 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.
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