An incontrovertible success that obtained today by the Esselunga bond in the first issue in the history of the large-scale retail giant which thus makes its debut on the bond market.
Today's placement of the 1 billion euro bond divided into two tranches of 500 million, which took place at the end of a short roadshow, closed with requests exceeding 8 billion euro.
We remind you that there are fundamental differences between the two tranches: the first is six years and will expire on 25 October 2023, while the second, 10 years, will expire on 25 October 2027.
As regards the 7-year bond, the banks that manage the transaction as joint bookrunners (Banca IMI, Citi, Mediobanca and UniCredit) have received orders for over 4,25 billion euro. A figure that made it possible to bring down the spread in the 65-70 basis points area above the midswap, from the 90-95 of the initial guidance.
Speaking instead of the ten-year tranche, orders exceeded 5 billion and the spread fell to 110-115 points above the midswap from the 135 of the initial indications.
Through the issue, the Caprotti heirs will be able to repay the pool of banks that financed the repurchase of 67% of Villata Immobiliare.
