Cassa Depositi e Prestiti has launched an 8-year senior unsecured bond. The funding target is at least 500 million euros and the initial price indications are in the area of 115-120 points above the midswap. The titles will pay a fixed annual coupon.
The expected rating for the issue is Baa2 from Moody's, BBB from S&P, BBB from Fitch and A- from Scope.
The auction is managed as joint lead manager by Banca Imi, Credit Suisse, Deutsche Bank, JP Morgan, Mediobanca and Morgan Stanley. The operation will be priced during the day.
