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LONDON - Vodafone Group (LON:VOD) Plc announced Tuesday that approximately €2.74 billion ($3.2 billion) equivalent in aggregate principal amount of notes were validly tendered in its cash tender offers by the early deadline of July 14, 2025.
The British telecommunications company has increased its maximum tender amount from €2 billion to €2.5 billion equivalent and extended the period during which noteholders can receive the early tender premium through the final expiration date of July 29, 2025.
The tender offers target seven series of U.S. dollar and sterling-denominated notes with maturities ranging from 2043 to 2059. According to information provided by the tender agent, the 2056 Sterling Notes saw the highest participation with £677.85 million tendered, followed by the 2050 Dollar Notes with $671.06 million tendered.
Vodafone (NASDAQ:VOD) has established an acceptance priority system for the notes, with the 2050 Notes having the highest priority and a sub-cap of $750 million. The company will determine the final purchase price for each series on July 15, 2025.
The early settlement date for accepted notes is expected to be July 17, 2025. Holders whose notes are accepted will receive the applicable total consideration plus accrued interest.
The company recently closed offerings of new notes totaling £500 million and €1.9 billion, with proceeds from these issuances, along with existing cash balances, expected to fund the tender offers.
The withdrawal deadline has passed, and notes tendered can no longer be withdrawn except as required by law.
This article is based on a press release statement from Vodafone Group Plc.
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