Vodafone prices cash tender offers for dollar and sterling notes

LONDON - Vodafone Group (LON:VOD) Plc announced on Tuesday the pricing of its previously announced cash tender offers for seven series of U.S. dollar and sterling denominated notes due between 2043 and 2059.

The telecommunications company said it has accepted all notes validly tendered by the Early Tender Deadline of July 15, with no proration required. The total consideration ranges from $772.64 to $912.13 per $1,000 principal amount for dollar-denominated notes and from £549.41 to £643.78 per £1,000 principal amount for sterling-denominated notes.

Vodafone (NASDAQ:VOD) has also extended the deadline for receiving the Early Tender Premium through to the Expiration Date of July 29, meaning holders who tender their notes after the Early Tender Deadline but before the Expiration Date will now receive the full Total (EPA:TTEF) Consideration, which includes the Early Tender Premium.

The company accepted $671.1 million of its 4.25% Notes due 2050, $196.7 million of its 5.125% Notes due 2059, £677.9 million of its 3.00% Notes due 2056, $564 million of its 4.875% Notes due 2049, £464.1 million of its 3.375% Notes due 2049, $185.8 million of its 5.25% Notes due 2048, and $47.3 million of its 4.375% Notes due 2043.

The early settlement date is expected to be July 17, with the final settlement date scheduled for July 31. In addition to the applicable Total Consideration, holders whose notes are accepted will receive accrued interest.

The offers are subject to certain conditions as outlined in the offer to purchase dated June 30, 2025. Merrill Lynch International and Deutsche Bank (ETR:DBKGn) are serving as dealer managers for the offers.

The information in this article is based on a press release statement from Vodafone Group Plc.

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