CMS Hasche Sigle again advises Telefónica Deutschland on successful placing of benchmark bond

Munich – On 3 February 2014, O2 Telefónica Deutschland Finanzierungs GmbH, a subsidiary of Telefónica Deutschland Holding AG, again successfully placed a senior unsecured bond worth EUR 500 million. This is the second successful benchmark issue by Telefónica Deutschland, following its debut offering of EUR 600 million placed in November 2013.

A team from CMS Hasche Sigle led by Oliver Dreher and Philipp Melzer advised Telefónica Deutschland on all legal aspects of the bond issue. The firm has also acted for the company in the past, including advising on the company’s IPO in October 2012, the acquisition of mobile service provider E-Plus in July 2013 and the issuing of the debut benchmark bond in November 2013.

The bond, which will be admitted to the regulated market in Luxembourg, matures on 3 February 2021 and is guaranteed by Telefónica Deutschland Holding AG. The fixed rate bonds pay a 2.375 per cent coupon and were issued at a price of 99.624 per cent, corresponding to an issue spread of 100 basis points over the seven-year euro mid-swap rate.
Munich-based Telefónica Deutschland is a subsidiary of Spanish telecommunications group Telefónica S.A. and the third-biggest integrated telecommunications provider in Germany. In the 2012 financial year, the company generated revenues of more than EUR 5.2 billion.

CMS Hasche Sigle

Philipp Melzer, Capital Markets, Lead Partner
Oliver Dreher, Capital Markets, Lead Partner
Stephan Parrandier, Capital Markets
Dr Stefan Ueding, Capital Markets
Vanessa Harms, Capital Markets

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