telstra-flags-Ç1-billion-eurobond

Telstra flags Ç1 billion eurobond

The national telco will tap the euro market with a long-term benchmark issue lead by JPMorgan, BNP Paribas, Deutsche Bank and Barclays Capital.
Telstra has announced plans to tap the eurobond market with a long-term issue of up to Ç1 billion. The four joint leads who managed the telcoÆs last foray into euro market in 2005 û JPMorgan, BNP Paribas, Deutsche Bank and Barclays Capital û are also managing this transaction.

The deal has been timed to take advantage of strong investor sentiment towards Telstra following its full privatisation in November last year and the release of half yearly results in mid-February which, the company says, show that its transformation plan is on target.

TelstraÆs chief financial officer, John Stanhope, says the lead managers are now testing the market to determine the size and tenor of the...
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