LONDON (Alliance News) - Vodafone Group PLC said Tuesday it has launched a tender offer worth up to EUR1.50 billion for some of its loan notes as the FTSE 100-listed telecommunications firm looks to extend its debt maturity profile.
Vodafone had launched the offer to holders of the EUR1.62 billion outstanding on its EUR1.75 billion 1.000% notes due September 2020, the EUR697.6 million outstanding on its EUR750.0 million 0.875% notes due November 2020, and EUR1.25 billion outstanding on its EUR1.25 billion 1.250% noted due August 2021.
In total, Vodafone intends to purchase up to EUR1.50 billion in notes across the three bonds. The purchase of the notes is dependant on the firm raising new funds funds through the issue of new loan notes.
"The purpose of the offers and the proposed issue of the new notes is to extend the company's debt maturity profile in an efficient manner," Vodafone explained in a statement. "The offers are also being made as part of the company's liability management and to provide liquidity to those holders whose notes are accepted in the offers."
Shares in Vodafone were 0.1% higher at 126.51 pence on Tuesday.
Vodafone (VOD)