| An SI Board Since July 1999 |
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JAZZ Jazztel
Monday July 19, 9:44 pm Eastern Time
Spain's Jazztel to debut on Nasdaq - FT
LONDON, July 20 (Reuters) - Spanish telephone operator Jazztel plans to raise more than $400 million through a debut on Nasdaq and a concurrent issue of high yield bonds, the Financial Times reported on Tuesday.
Quoting Jazztel Chief Executive Antonio Carro, the newspaper said the company planned to raise $150-$200 million through the issue of new shares and $200-$300 million in the simultaneous bond issue.
The company, which is backed by a number of private equity investment firms, plans to invest around $2 billion over the next three years developing fibre-optic networks as a competitive local exchange carrier in Spain and Portugal.
Jazztel became the first Spanish company to raise funds in Europe's embyonic high-yield or ''junk'' bond market with a deal in April comprising 110 million euros and $100 million.
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