Telekom Austria to place benchmark hybrid euro bond

VIENNA Thu Jan 24, 2013 3:53am EST

VIENNA Jan 24 (Reuters) - Telekom Austria intends to place a benchmark euro-denominated hybrid bond following the completion of a European roadshow, it said on Thursday.

The company said the first call date would be 1 Feb. 2018, and the bonds were expected to be rated Baa3 by Moody's and BB+ by Standard & Poor's.

Telekom Austria has slashed its dividend for 2012 and 2013 as it seeks to conserve cash to keep its credit rating and for radio frequency auctions later this year.

(Reporting by Georgina Prodhan; Editing by Michael Shields)