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LONDON - Vodafone Group Plc announced Thursday it will exercise its redemption option to buy back all outstanding €1 billion capital securities due August 27, 2080, ahead of their original maturity date.
The telecommunications company will redeem the securities on November 24, 2025, at their principal amount along with any accrued and unpaid interest up to but excluding the redemption date, according to a press release statement.
The early redemption is being executed under the Issuer's Substantial Repurchase Event Redemption Option in accordance with the terms and conditions established in the Trust Deed dated August 27, 2020.
Payment of the redemption funds will be processed through Euroclear Bank SA/NV and Clearstream Banking S.A., following their standard procedures.
Vodafone has also requested the Financial Conduct Authority (FCA) to cancel the listing of all outstanding securities on the redemption date pursuant to UKLR 21.2.17 of the FCA Listing Rules.
The capital securities, identified by ISIN XS2225157424 and Common Code 222515742, were originally set to mature in 2080, making this redemption significantly earlier than their scheduled maturity.
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