Telenor - update of EMTN programme and issue of EUR 1 billion notes

  • 27 June 2012

Slaughter and May advised Telenor ASA ('Telenor') on the update of Telenor's EUR 7.5 billion EMTN programme (the 'Programme') and subsequent issue under the Programme of EUR 500 million 1.750% notes due 15 January 2018 and EUR 500 million 2.750% notes due 27 June 2022 (the 'Notes').

The proceeds of the issue will be used for general corporate purposes, and the Notes are to be listed on the Official List of the Luxembourg Stock Exchange and admitted to trading on the regulated market of the Luxembourg Stock Exchange.

The 2.750% coupon on the EUR 500 million notes due 27 June 2022 is reported to be the lowest coupon on record in that tenor for a euro-denominated corporate issuance.

BA-HR advised Telenor on Norwegian law.




Financing: Sanjev Warna-kula-suriya (partner), Andrew Williams (associate); Tax: Tony Beare (partner), Mike Ringer (associate)

BA-HR: Finn Myhre (senior lawyer)

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