Telefónica issues €850m green bond
NOVEMBER 15, 2023 09.48 EUROPE/LONDON BY CHRIS DZIADUL

Spain’s Telefónica has successfully launched a 10-year €850 million green bond.

It notes that the operation has been positively received by institutional investors, over 90% international, with nearly 200 orders and a book of €2,500 million, which has prompted the company to issue the final €850 million, above the €750 million initially planned.

In addition, the conditions have been significantly improved, from the initial indications, with a spread of 135-140 basis points, to the final spread of 110 basis points. The final coupon has been set at 4.183%.

The closing and final settlement of the transaction will take place on November 21.

Telefónica adds that this is the third green bond issued this year, following the placement of two hybrid bonds in January and August for €1,000 million and €750 million, respectively.