Calyon acted as bookrunner in the Telefonica’s EUR 1,750 million benchmark bond issue, alongside BNP Paribas, RBS and CSFB. This operation is the largest ever 10-year issue for the company.

 

In a record period of time, the transaction was oversubscribed with a coupon of 4.693%. For this operation, over 450 accounts were allocated. Telefonica achieved a sound distribution, dominated by fund managers (58%) followed by banks (18%) and insurances (10%). This placement was highly diversified geographically: French accounts leading the way with 23%, followed by Germany (20%) and United Kingdom (14%).

 

Calyon and Telefonica have a strong relationship. Earlier this year, Calyon acted in its EUR 2 billion benchmark issue, with over 500 investors.

 

Calyon has been a key bank in arranging the massive flow of corporate issuances in the bond market since the start of 2009.

 

Telefonica is a leading private company in the global telecommunications market, with headquarters in Spain; it is listed on the main international stock exchanges. With a presence in 25 countries, it employs more than 250,000 persons.