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BRIEF-Vodafone places 2.88 bln stg of mandatory convertible bonds

Feb 19 (Reuters) - Vodafone Group Plc :

* Successful placing of mandatory convertible bonds

* Vodafone to raise £2.88 bln through issuance of mandatory convertible bonds

* Bonds to be issued in two tranches: 18 month maturity and 3 year maturity

* Bonds convertible into ordinary shares representing approximately 5 pct of Vodafone’s current share capital

* Potential for Vodafone to buy back shares following conversion of bonds in order to mitigate dilution, utilising disposal proceeds from its U.S.$5 bln Verizon loan notes

* Vodafone to hedge its exposure to share price movements during term of bonds via an option strategy

* Settlement and closing is scheduled to take place on 25 February 2016 Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 806 749 1136)

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