British Telecommunications PLC (BRITEL)

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British Telecommunications PLC (BRITEL)

C/P	Industry	Status	Ticker(s)	Issuer(s)	Size(m)		Tranches	Region	Date
HYC	COMM	PRCD	BRITEL	British Telecommunications PLC	£700		1	EMEA	Jun 13, 2023

Tranche #1British Telecommunications PLC

currency

GBP

size (m)

700.000

maturity

Dec 20, 2083

type

Fixed

tenor

60.500

call

registration

Reg S Only

benchmark

ranking

moody's

Ba1

s&p

BB+

fitch

BB+

size description

re-open/tap

ipt

8.75%

ipt-pxd

guidance

spread

382

coupon

8.375%

spread set

price

99.55000

yield

8.50%

book size (m)

1,600

peak book (m)

x-covered

2.29

book attrition

nic

left lead

active leads

joint leads

passive leads

co-managers

coordinating managers

book size (m)

1,600

peak book (m)

x-covered

2.29

book attrition

nic

left lead

active leads

joint leads

passive leads

co-managers

coordinating managers

Tranche Comments

60.5 yr: Book size: 1600; Redemption: 2028-09-20; Registration: Reg S Only; Comments: GBP700m 60.5NC5.5 bmk hybrid RegS. Ba1/BB+/BB+. Barc(B&D)/BNPP/BofA(Logis)/JPM. IPTs 8.75% (annual yield), set 8.5%, launch 700m. Final books ~1.6bn (peak 1.9bn+). UKT 1.625% 10/28+382. FTT 3:30pm. Tax Call: Yes. PP: Yes. Reset Date: 2028-12-20. Par Call: 3m. Cleanup Call: 75%. MWC: G+50. Regulatory Call: Yes (Tax Deductibility Event, Rating Capital Event or Accounting Event: at 101% until 20 September 2028). CoC: 101%. LEI: 549300OWFMSO9NYV4H90;

Deal Comments

Hybrid Bond

Guarantor(s)

BT Group PLC

Use of Proceeds

General Corporate Purposes

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