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Telstra raises $700m in bond issue

Telstra raises $700m in bond issue

Telstra (ASX:TLS) has borrowed around $700 million via a bond issue.

The €500 million ($707 million), 10.5 year Eurobond issue accrues an annual coupon of 3.625%, and matures in March 2021.

The borrowing was conducted under Telstra's Global Debt program, and is Telstra's second borrowing in the European market this year following a €1 billion bond issue in March.

The proceeds will be fully swapped into Australian dollars at drawdown through to maturity and will be used as long-term funding, Telstra CFO John Stanhope said.

TLS shares are today trading 0.75% lower at $2.630.

The government-owned Future Fund today revealed it had sold 113.6 million TLS shares, reducing its holding to 10% from 10.9%.

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Tags ASX:TLS Bonds Debt telecommunications Telstra

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