After yesterday's announcement of the buyback program of the bonds maturing in 2015, 2016, January and September 2017, Telecom Italy announced in a press release that it intends to accept purchase offers up to a total maximum amount of 600 million euro.
The company has also set a deadline for the presentation of offers relating to the buyback operation which must be presented by 17 pm on 20 January 2015. Meanwhile in the morning Telecom announced the placement of a fixed rate bond for one billion euro, intended for institutional investors. It will be used to pay for the repurchase of new securities, consequently reducing the cost of medium-long term debt.
