British Telecommunications Plc yesterday launched dollar and sterling Eurobonds to refinance three bond issues held by the UK government that it bought at auction on Monday. It bought back all the three tranches of its debt on offer in the auction: ?141.39m of the 8.625% bond due 1998, ?154.76m of the 8.75% bond due 1999, and ?243.55m of the 9.25% bond due 2005. It launched a ?300m Eurobond due March 2020 paying 8.625% and offered at ?100.765% through Lehman Brothers Inc and S G Warburg Ltd, and a $375m 6.5% Eurobond due August 1997 which was increased from $300m to meet demand, offered at $101.0715% via the same two managers.
