Strong demand for the five-year bond launched this morning by Italcementi: at the closing of the books, in fact, orders were recorded for approximately 2 billion euro against an issue amount established by the company at 350 million.
The good response from the market consequently meant that the premium was reduced: the coupon which, according to the latest calculations, should settle in the range between 6,30% and 6,40%, down compared to the initial indication, in the 6,50% area.
The issue, which is expected to be placed in the afternoon, was conducted by Banca IMI, BNP Paribas, Credi Agricole Cib, Natixis and UniCredit. Italcementi's rating is Ba2 with a negative outlook at Moody's and BB+, with a stable outlook, at S&P's. In the morning, the company's stock lost 1,12% to 4,432 euros per share.
