La Rai has launched a 300 million euro bond. The news, anticipated by FIRSTonline, was confirmed today by the public company, which provided further details on the issue.
The bonds are of the senior unsecured type, therefore they take precedence over other creditors in the event of company bankruptcy but are not covered by a specific guarantee. There maturity is five years and they will pay one annual fixed coupon.
As regards the rating, Moody's rating on Rai is Baa3, with a negative outlook.
The initial indications of price they're in the area of 210 points above the midswap rate. The final price will be provided during the day at the conclusion of the placement.
The placement is managed by Citi and Unicredit as global coordinators.
