Australian telecom, Telstra Corp.(TLS.AU) has set pricing on its euro-denominated, benchmark-size, 10.5 year bond at between 120 to 125 basis points over midswaps, one of the banks running the deal said Wednesday.

Deutsche Bank AG, HSBC Holdings PLC and JPMorgan Chase and Co. are the lead managers on the deal, which is expected to price later Wednesday.

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

-By Sarka Halas, Dow Jones Newswires, +44 (0) 207 842 9236;

Sarka.Halasova@dowjones.com

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