Telefonica to issue 750 mln eur of bonds exchangeable for Telecom Italia shares

MADRID, July 16 Wed Jul 16, 2014 12:33pm EDT

MADRID, July 16 (Reuters) - Spanish telecoms group Telefonica on Wednesday said it would issue 750 million euros ($1.01 billion) in bonds exchangeable for Telecom Italia shares.

The company said in a notice to Spain's market regulator the bonds would mature in three years but can be converted at any moment beforehand or paid in cash if a series of conditions are met. ($1 = 0.7393 Euros) (Reporting by Julien Toyer; Editing by Sarah White)

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