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Vodafone (VOD -1%) is launching a $6B debt offering: the carrier is selling $700M in 3-year...

Vodafone (VOD -1%) is launching a $6B debt offering: the carrier is selling $700M in 3-year floating rate notes to go with 3, 5, 10, and 30-year fixed rate notes. The fixed-rate debt carries implied reoffer yields ranging from 0.95%-4.45%. The offering comes 5 months after Vodafone sold $3B worth of 2017 and 2022 notes. Look for the company, which had £23.3B ($36.5B) in net debt at the end of 2012, to use the proceeds to finance the buildout of 4G networks for "technofreaks."
Comments (1)
  • More debt should depress stock price somewhat. This stock is a bet on the African expansion. Seems like a pretty considerable risk for less than 6% dividend.
    11 Feb 2013, 03:05 PM Reply Like
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