UK investors grab Telecom Italia deal
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Telecom Italia launched a £850 million bond last month, giving investors a welcome opportunity to pile into the telecoms sector. The deal is one of the largest sterling corporate bond deals this year, second only to Network Rail’s £10 billion issue in March this year. Demand for the deal was strong, prompting the firm to increase the size of the bond from £750 million to £850 million.
Telecom Italia issued in sterling in order to obtain cheaper funding, and to diversify its investor base away
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