Acea today placed a 10 million euro 600-year senior unsecured bond, increased after an initial indication to 500 million, receiving requests in excess of 2,2 billion. According to reports from the lead managers of the transaction, the bond - maturing in July 2024 and with a coupon of 2,625% - was priced at a reoffer of 99,195, for an effective yield of 2,718%, equal to 128 basis points above the midswap.
An initial indication of performance this morning was between 135 and 140 bps, then revised to around 130 bps (+/- 2 bps). The placement was managed by Banca Imi, Bnp Paribas, Credit Agricole Cib, Mediobanca and UniCredit. The Roman utility has a Baa2 rating from Moody's, BBB- from Standard & Poor's, BBB+ from Fitch.
