Clifford Chance has advised Bank of America Merrill Lynch, Bayerische Landesbank, Commerzbank and UBS Investment Bank as joint bookrunners on the EUR 600 million inaugural bond issue of Telefónica Deutschland Finanzierungs GmbH. The bond is guaranteed by Telefónica Deutschland Holding AG. The bond has a term of five years and pays a 1.875 coupon.

Under its brand name O2 Telefónica Deutschland sells mobile telecommunication products, mobile data services, DSL fixed network telephony and high-speed internet services to its customers in Germany.

The Clifford Chance team comprised partner Sebastian Maerker, senior associate Dr. Felix Biedermann and associate Sven Kurzawe (all Banking & Capital Markets, Frankfurt).