Good response for the new 7-year bond launched this morning by Telecom Italia. In fact, according to sources close to the operation, the issue has already collected orders for 5 and a half billion. The size of the demand allowed the yield guidance to be lowered, from 325 bps to the range between 300 and 310 basis points above the midswap rate.
The placement of the bond, the pricing of which is scheduled for the day, is handled by a syndicate of banks made up of Barclays, Credit Agricole, Goldman Sachs and Societe Generale; the other bookrunners are Bank of America Merrill Lynch, HSBC, ING and Natixis.
Meanwhile, in mid-morning, the Telecom share gained 0,30%, slightly against the trend compared to an Italian stock market in slightly negative territory.
