The tranches of the promissory note feature fixed as well as variable rates and maturities of five, seven and 10 years. This placement further contributes to the diversification of Telefónica Deutschland’s maturity profile and investor base.
“The fact that our placement attracted interest from such a broad array of lenders reflects our strong operating momentum and financial position,” said Markus Rolle, Chief Financial Officer of Telefónica Deutschland. “This transaction provides us with even more financial flexibility.”
Demand for the loan came from savings banks, cooperative banks as well as German and international commercial banks. The promissory note loan was arranged by Bayerische Landesbank (Bayern LB), HSBC Trinkaus & Burkhardt (HSBC), and Landesbank Baden-Württemberg (LBBW).
Last year, Telefónica Deutschland placed a promissory note loan of EUR 250 million which included a blockchain tranche as well as a euro bond with an amount of EUR 600 million.