Telefónica instructs Davis Polk on €1.25bn notes offering

A Davis Polk team led by partner Michael J. Willisch (pictured) advised Telefónica on an SEC-registered notes offering by Telefónica Emisiones.

The offering comprised $1.25 billion aggregate principal amount of 5.250 per cent fixed-rate senior notes due 2049.

Telecommunications group Telefónica reported revenues of €52 billion in 2017. The company provides fixed-line telephone services, wireless communications, internet access and data transmission services across Spain and Latin American.

The Davis Polk team also included counsel Ester del Valle Izquierdo and associate Paula Querol. Counsel Alon Gurfinkel and associates Omer Harel and Veronica Davis provided tax advice. Associate Jennifer Wang provided 1940 Act advice.

Ben Cook