Switzerland's historic telco Swisscom said on Thursday it had raised 4 billion euros through a bond sale, completing the financing of its 8 billion euro ($8.7 billion) acquisition plan for Vodafone Italia.
“Swisscom has completed the financing of the acquisition on attractive terms and significantly ahead of its expected closing date of the first quarter of 2025,” the company said in a statement.
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Switzerland's historic telco Swisscom said on Thursday it had raised 4 billion euros through a bond sale, completing the financing of its 8 billion euro ($8.7 billion) acquisition plan for Vodafone Italia.
“Swisscom has closed the acquisition financing on attractive terms and significantly ahead of the expected completion date in the first quarter of 2025,” the company said in a statement.
The fixed-rate bonds were sold to investors on Wednesday, and demand was three times higher than supply, the company said.
The company said in early May it had already raised more than 1.14 billion Swiss francs ($1.3 billion) through a domestic bond sale.
“The remainder of the purchase price will be covered by long-term bank loans totalling 3 billion euros,” Swisscom said in a statement.
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In mid-March, Swisscom agreed to buy Vodafone's Italian operations for 8 billion euros.
The acquisition aims to strengthen the Swiss company's position in Italy, where it bought the Fastweb operator in 2007.
Swisscom said on Tuesday that the Italian government cabinet had approved the Vodafone acquisition.
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