Debt AdvisoryTMTSIGNED
Cellnex Telecom Issues €750 Million in Bonds
Value
€750M
Target
Cellnex Telecom
Cellnex Telecom has issued bonds for a nominal amount of 750 million euros, maturing on January 20, 2034, with an annual coupon of 4.375%. The bonds will be listed on the Irish Stock Exchange.
✦ Meridian Analysis
Cellnex Telecom’s finance arm has signed a €750 million euro‑denominated bond issuance under its Euro Medium‑Term Note programme. The notes mature on 20 January 2034 and carry a 4.375 % annual coupon, priced at 98.485 % of nominal and guaranteed by the parent. The bonds are aimed at qualified investors, will be listed on Euronext Dublin and the proceeds are scheduled for disbursement on 20 November, subject to customary conditions and CNMV filing. In this structure the issuer – Cellnex Finance Company – is the obligor, while investors assume the credit risk, backed by the BBB‑ rating expected from Fitch and S&P. The mechanics are that the bond tranche is placed via the EMTN framework, allowing Cellnex to tap the capital markets efficiently without a separate underwriting process for each issue.
Earlier this month Meridian reported a €375 million loan from the European Investment Bank to accelerate 5G deployment across Europe.
Deal professionals will note that the exact use of proceeds, the composition of the financing package and the identity of placement agents were not disclosed.
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