MADRID: Spain's Telefonica has set the coupon for a 1.5-billion euro ($1.94 billion) convertible bond, to be used partly to fund the acquisition of Germany's E-Plus, at 4.9 percent, the company said on Thursday.
The three-year paper, which can be converted into new or existing shares, matures on Sept. 25, 2017.
The minimum conversion price was set at 11.9 euros per share and the maximum price at 14.5775 euros, the telecommunications company said in a statement to the market regulator.
Telefonica shares fell 1.52 percent to 11.98 euros per share at 0716 GMT.
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