(MENAFN- Swissinfo) Telecoms group Swisscom has taken the next step in its takeover of Vodafone Italia and secured financing for the deal, it announced on Thursday.
This content was published on May 23, 2024 - 11:54 2 minutes Keystone-SDA
Notes and bank loans will be taken out to pay the €8 billion (CHF7.9 billion) purchase price, Swisscom said. Following the issue of CHF1.15 billion ($1.25 billion) in Swiss Domestic Bonds at the beginning of May, €4 billion (CHF3.96 billion) in Eurobonds will now be added. The remaining amount will be financed via a €3 billion (CHF2.97 billion) bank loan, available in two tranches.
The financing has been completed at attractive conditions and well ahead of the expected closing in the first quarter of 2025, the group said in a press release. The incremental annual interest expense is initially estimated at a maximum of CHF250 million per year. This is in line with the figures presented when the deal was announced on March 15, 2024, said Swisscom.
+ Swisscom's €8 Billion Deal Opposed by Largest Swiss Party
The issue of five Eurobond tranches was reportedly almost three times oversubscribed. The tranches range from €500 million to €1.25 billion, with terms of between two and 20 years, and coupons of 3.5% to 3.875%. Together with the Swiss bonds, these notes replaced a €5.1 billion syndicated bridge loan, which Swisscom had secured to finance the takeover.
Adapted from German by DeepL/kp
This news story has been written and carefully fact-checked by an external editorial team. At SWI swissinfo we select the most relevant news for an international audience and use automatic translation tools such as DeepL to translate it into English. Providing you with automatically translated news gives us the time to write more in-depth articles.
If you want to know more about how we work, have a look
here , and if you have feedback on this news story please write to
... .
External Content Your subscription could not be saved. Please try again. Almost finished... We need to confirm your email address. To complete the subscription process, please click the link in the email we just sent you. Daily news
Get the most important news from Switzerland in your inbox.
Daily
Email
The SBC Privacy Policy provides additional information on how your data is processed.
I consent to the use of my data for the SWI swissinfo newsletter.
News More Switzerland trails other European nations in solar and wind power
This content was published on May 23, 2024 Switzerland is at the bottom of the European league table in producing solar and wind-generated electricity.
Read more: Switzerland trails other European nations in solar and wind power More Cellist Sol Gabetta wins 2024 'Grand Prix Music'
This content was published on May 23, 2024 The cellist Sol Gabetta has landed the prestigious prize which comes with a cheque for CHF100,000 ($109,551).
Read more: Cellist Sol Gabetta wins 2024 'Grand Prix Music' More Employees in Switzerland increasingly stressed at work
This content was published on May 23, 2024 The proportion of people in Switzerland who are stressed at work has increased by 5% over ten years, according to the Federal Statistical Office.
Read more: Employees in Switzerland increasingly stressed at work More Swiss Air Force to use motorway for test exercise
This content was published on May 23, 2024 F/A-18 fighter jets will practice take offs and landings on the A1 motorway between Payerne and Avenches in canton Vaud on June 5.
Read more: Swiss Air Force to use motorway for test exercise More Survey: half of Swiss are open to online psycho-therapy
This content was published on May 23, 2024 Some 49% of people said they would describe online counselling as useful or very useful.
Read more: Survey: half of Swiss are open to online psycho-therapy More Swiss government earmarks over CHF11 billion for foreign aid
This content was published on May 23, 2024 Ministers have requested a total of CHF11.27 billion for foreign aid in a dispatch submitted to Parliament on Wednesday.
Read more: Swiss government earmarks over CHF11 billion for foreign aid More Swiss health insurance premiums forecast to rise by 6% in 2025
This content was published on May 23, 2024 Price comparison portal Comparis has forecast an average increase in basic health insurance premiums of 6% next year.
Read more: Swiss health insurance premiums forecast to rise by 6% in 2025 More Switzerland commits CHF50 million to combat rural poverty worldwide
This content was published on May 22, 2024 The Federal Council approved a contribution of CHF49.5 million ($54.1 million) for the International Fund for Agricultural Development (IFAD).
Read more: Switzerland commits CHF50 million to combat rural poverty worldwide More Arrests made in raid against Turkish criminal organisation
This content was published on May 22, 2024 A cross-border raid against a Turkish criminal organisation was conducted, including property searches in cantons Aargau and Zurich.
Read more: Arrests made in raid against Turkish criminal organisation More Up to 4,000 Swiss army soldiers to protect Ukraine peace conference
This content was published on May 22, 2024 The Federal Council has authorised deployment of army personnel for the Ukraine peace conference on the Bürgenstock in June.
Read more: Up to 4,000 Swiss army soldiers to protect Ukraine peace conference
In compliance with the JTI standards
More: SWI swissinfo certified by the Journalism Trust Initiative
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at ... .
MENAFN23052024000210011054ID1108250982
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.