Telefónica Europe will repurchase in cash bonds for an amount of 242.4 million euros of a ten-year issue for 1,000 million irrevocably guaranteed by the parent company, Telefónica S.A., and with an annual coupon of 5.875%, the company has informed the National Stock Market Commission (CNMV).

The purchase price is 101,100 euros per 100,000 euros, and the aggregate outstanding nominal amount of the issue prior to completing the offer amounted to 387.6 million euros.

Subject to the satisfaction or waiver of the new financing condition, the expected settlement date of the offer is September 8, 2023. All notes repurchased pursuant to the offer will be redeemed.

Telefónica informs that after the settlement of the offer and the cancellation of the repurchased bonds, more than 80% of the aggregate initial nominal amount of the issue will have been acquired and canceled by Telefónica Europe.

The company, which will therefore have the option of early redemption of all outstanding bonds, in full and not in part, for their nominal amount plus interest accrued up to the excluded early redemption date, has already indicated that intends to exercise this option after settlement of the offer.