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Telekom Austria to Sell 750 Million Euros of 10-Year Bonds

Telekom Austria AG, Austria’s former telephone monopoly, is selling 750 million euros ($1 billion) of 10-year bonds, according to a banker with knowledge of the deal.

The notes will be priced to yield 175 basis points more than the benchmark mid-swap rate, according to another banker.

Telekom Austria is selling the bonds as part of a new 2.5 billion-euro euro medium-term note program, it said in a statement today, adding that it was selling a 10-year benchmark-sized senior unsecured bond via its finance subsidiary, Telekom Finanzmanagement GmbH.

The telephone company held a call with bond investors organized by BNP Paribas SA, Erste Group Bank AG, Raiffeisen Bank International AG and Royal Bank of Scotland Group Plc earlier today, according to two other people with knowledge of the arrangements.

Telekom Austria currently has three outstanding bonds, due 2013, 2016 and 2017, according to data compiled by Bloomberg. The 750 million-euro 2013 bond has a coupon of 5 percent, the 750 million-euro 2016 bond has a 6.375 percent coupon, while the 500 million-euro 2017 bond has a coupon of 4.25 percent, according to the data.

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