Telecom Italia: plans to issue a corporate bond worth 5 billion dollars

10/05/2000 - 00:00 PM

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Further to news in the press regarding possible operations on the corporate bond market, Telecom Italia announces that it is planning to issue a corporate bond for the amount of 5 billion dollars, which will be presented to the Financial market in the next few days.

The issue, which will have a diverse range of maturities up to a maximum of 30 years, will substitute short term credit lines previously activated by Telecom Italia, with the objective of refinancing as well as significantly lowering the cost of the Group´s debt.

The planned Issue is part of a wider programme, already approved by the Board of Directors, to tap the corporate bond market for a maximum value of 10 billion dollars.