Telstra completes $1.5m bond issue

Telstra (ASX:TLS) has completed a a €1 billion ($1.49 billion) benchmark Eurobond issue.

The issue has a 4.25% annual coupon and a maturity date of March 23, 2020, Telstra said.

CFO John Stanhope said the bond was six times oversubscribed, with an orderbook comprising almost 300 individual orders from entities including fund managers, insurance companies and banks.

He said the issue should provide Telstra with long-term funding, while delaying some of the company’s debt obligations.