British telecommunications company Cable & Wireless plc (C&W) set out the final terms of its demerger on Tuesday, including a US$500 million bond offer.
C&W said it plans to split into two separate companies by March 26, as it provided its final trading update as a sole company.
Listings for the two companies, Cable & Wireless Communications and Cable and Wireless Worldwide, will be sought on the London Stock Exchange, on March 22 and March 26, respectively.
C&W confirmed guidance for the current fiscal year, fore-casting earnings before interest, tax, depreciation and amortisation of between US$880 million and US$900 million for its Communications business. More
