Telefonica plans new long seven-year

By Helene Durand

LONDON, Oct 5 (IFR) - Telefonica SA, rated Baa2/BBB/BBB+, has mandated BayerLB, BNP Paribas, Citi, Commerzbank, MUSI and SG CIB for a new January 2020 euro benchmark issue.

The lead banks have begun gathering investor interest at 340bp to 350bp over mid-swaps and the long seven-year deal will price later today.

(Reporting by Helene Durand, Editing by Sudip Roy)

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