mmO2, the demerged wireless unit spun off by British Telecom in November, has signed a new euro medium-term note (EMTN) programme that will grant the company easier access to the bond markets.

The €5bn ($4.51bn) programme, which is rated Baa2 by Moody's Investor Service, BBB- by Standard & Poor's and BBB by Fitch - the same as mmO2's senior unsecured rating - will grant the company further financial flexibility, complementing the company's strong initial balance sheet and existing bank facilities.