Vodafone has handed BNP Paribas and WestLB roles on the UK mobile phone group's largest euro-denominated bond in three years and its first floating rate deal in the single currency. Neither bank has worked on a Vodafone bond before.

The two banks shared the books on the €1.25bn ($1.5bn) deal with Barclays Capital. It is Vodafone's largest euro-denominated bond since it raised €1.4bn via Deutsche Bank in February 2003.