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Cellnex prices 450 mln euro bond issue

MADRID, Jan 9 (Reuters) - Spain’s Cellnex Telecom SA priced a 450 million euro ($499.64 million), seven-year bond issue on Thursday.

Proceeds from the bonds, which have a coupon rate of 1%, will be used for general corporate purposes, the telecom-tower operator said.

It said it was taking advantage of favourable market conditions to lower its average cost of debt and increase its average maturity.

$1 = 0.9007 euros Reporting by Nathan Allen; Editing by Susan Fenton

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