Vodafone Group Plans To Issue Mandatory Convertible Bonds - Quick Facts

(RTTNews) - Vodafone Group Plc (VOD.L, VOD) announced its intention to raise approximately 4 billion euros of sterling-denominated Mandatory Convertible Bonds or MCBs, to be issued in two tranches maturing no later than March 2021 and March 2022. After the Bonds have been issued, Vodafone intends to apply for the Bonds to be admitted to trading on Euronext Dublin's Global Exchange Market or another recognised stock exchange.

Vodafone intends to use the net proceeds of the offering as part of the financing of the acquisition of the Liberty Global assets in Germany, Czech Republic, Hungary and Romania, including the refinancing of bank loans that are repayable at par, and for general corporate purposes.

The Group noted that the number of ordinary shares into which the Bonds are initially convertible is expected to represent approximately 9.8% of Vodafone's current share capital and falls within the limits approved by Vodafone's shareholders at its annual general meeting in July 2018 for the purposes of making offers of ordinary shares on a non-pre-emptive basis.