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Spain's Cellnex finalising bond issuance details -source
June 8, 2015 / 10:52 AM / 2 years ago

Spain's Cellnex finalising bond issuance details -source

MADRID, June 8 (Reuters) - Spanish mobile towers firm Cellnex is finalising the details of a bond issue aimed at institutional investors, a source close to the process said on Monday.

The company is considering placing 500 million to 700 million euros ($556 million-$779 million), according to the source.

A spokesman for the company said the terms and conditions were still to be decided.

More than half of Cellnex was listed on the stock exchange by parent company Abertis on May 7. Strong investor appetite has lifted the share price to 15.9 euros on Monday from its debut of 14 euros per share.

Cellnex registered a prospectus to authorise the issue of up to 2 billion euros in euro medium-term notes, a filing with the Irish stock exchange on May 20 showed.

The debt issuance could help finance the company’s March acquisition, through credit lines, of 7,377 mobile telephone towers from the Italian operator Wind for 693 million euros.

$1 = 0.8989 euros Reporting by Carlos Ruano; writing by Paul Day; editing by Jason Neely

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