Vodafone launches €4.1bn suite of hybrids to fund Liberty Global acquisition

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Vodafone launches €4.1bn suite of hybrids to fund Liberty Global acquisition

Vodafone Future Ready
Vodafone UK CEO Nick Jeffrey after the UK's first 5G holographic call as part of Vodafone's 5G trials staged between Manchester and Newbury. | Andrew Matthews/PA Wire/PA Images

When UK telecoms company Vodafone announced in May that it had agreed to buy some of US rival Liberty Global’s European operations, it said it would use existing cash, €3bn of mandatorily convertible bonds and new debt, including hybrid bonds to fund the €18.4bn acquisition. On Wednesday, Vodafone sold the hybrid bonds, using four different tenors in three currencies. Nigel Owen reports.

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