Swisscom: 4 billion additional for Vodafone Italia

Swisscom: 4 billion additional for Vodafone Italia
Swisscom: 4 billion additional for Vodafone Italia

Swisscom raised an additional 4 billion for Vodafone Italia

Published today at 8:27 a.m.

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The historic telecommunications operator in Switzerland Swisscom on Wednesday issued 4 billion euros of fixed-rate bonds in five tranches. The proceeds from these transactions will help finance the 8 billion euro takeover of the transalpine mobile network operator Vodafone Italia, announced in mid-March.

The operation breaks down into 500 million over two years at 3.50%, as much over 4.25 years at 3.50% also, 1.25 billion over 7.5 years at 3.50% still, 1.0 billion at 3.625% over 12.5 years and 50 million over twenty years at 3.875%.

The blue giant recalls in its press release on Thursday that it has already collected 1.145 billion francs in three installments at the beginning of May as part of this buyout. The franc and euro bonds will replace a syndicated bridge loan of 5.1 billion euros.

The balance of the bill will be covered by two bank loans already available, for a total of 3 billion euros.

Swisscom emphasizes that the additional interest charges induced by its expansion south of the Alps will be capped at 250 million francs per year.


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