<p>Telefónica S.A. has announced the launch of a tender offer through its subsidiary Telefónica Europe B.V. for several outstanding hybrid notes. The offers target three series of undated, deeply subordinated guaranteed fixed rate reset securities with original principal amounts of EUR 1 billion (2026 Notes), EUR 500 million (2027 Notes), and EUR 750 million (2028 Notes). Noteholders are invited to tender their securities for cash, with the offers commencing on January 12, 2026, and expiring on January 19, 2026. The purpose of the transaction is to proactively manage Telefónica’s hybrid capital and provide noteholders the opportunity to switch into new notes ahead of upcoming call dates. The acceptance of tenders is subject to the successful issuance of new euro-denominated hybrid securities by Telefónica Emisiones, S.A.U. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Telefónica SA published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0000814052-26-000003), on January 12, 2026, and is solely responsible for the information contained therein. © Copyright 2026 - Public Technologies (PUBT) Original Document: here</p>

Telefónica Launches Tender Offer for Hybrid Notes