Showers of orders for the 8-year bond launched this morning by A2A, which received orders for 2,5 billion euro against a maximum amount set at 500 million by the issuer. Furthermore, the strong demand allows the multi-service company to achieve its primary objective, i.e. a coupon of less than 4,5%.
According to sources close to the operation, in fact, the "price guidance" has been revised downwards in the range between 283 and 287 basis points on the midswap, from the 290-300 basis points initially forecast. The issue is handled by a pool of banks made up of BBVA, BNP Paribas, Deutsche Bank and Societe' Generale Cib (assets) and Banca IMI, Mediobanca and UniCredit (liabilities).
