Italcementi returns to the debt market with the reopening of an unsecured senior bond launched on February 21st. The amount is 150 million, while the original issue amounted to 350 million. The expected coupon is 6,125%, which is a premium of 340-350 basis points on the midswap. The transaction, issued by Italcementi Finance SA (and guaranteed by the parent company), is managed by a banking syndicate made up of Banca Imi, Bnp Paribas, Cacib, Natixis, UniCredit.
The bond has a five-year term and will mature on February 21, 2018. The issuer received a Ba2 rating with a negative outlook from Moody's and a Bb+ rating with a stable outlook from S&P.
At the end of the morning, Italcementi shares gained 0,4% in Piazza Affari.
