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Investors pile into new Telefonica bond

By Natalie Harrison

LONDON, Oct 5 (IFR) - Spain's Telefonica SA, rated Baa2/BBB/BBB+, will price a new EUR1.2bn January 2020 bond at 330bp over mid-swaps after the deal attracted around EUR8bn of investor demand.

The issuer mandated BayernLB, BNP Paribas, Citi, Commerzbank, MUSI and SG CIB for the transaction this morning, and initially gathered investors' interest at mid-swaps plus 340-350bp.

The deal will price later today.

(Reporting by Helene Durand; Editing by Julian Baker)

((helene.durand@thomsonreuters.com)(+44 207 542 3469)(Reuters Messaging: helene.durand.reuters.com@reuters.net))

Keywords: TELEFONICA/BOND

Symbol
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TEF
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BNP
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C
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CBK
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