Telstra Corp. (TLS.AU) is planning a euro-denominated, benchmark bond maturing in 2022, one of the banks managing the deal said Wednesday.

Initial price guidance is in the area of 155 basis points over midswaps.

The company had a series of meetings with European investors for a possible bond issue two weeks ago. BNP Paribas SA, Deutsche Bank AG, and HSBC Holdings PLC are leading the issue.

The issuer is rated A2 by Moody's Investors Services Inc., and A by Standard and Poor's Corp.

-By Serena Ruffoni, Dow Jones Newswires, +44 (0) 207 842 9349;

serena.ruffoni@dowjones.com

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