Rain requests for the new Luxottica bond and game closed within half an hour. The Italian eyewear company launched this morning a500 million euro seven-year bond, immediately receiving a more than positive response from the market: le Required Knowledge, arrived from over 500 investors, have shot up at 9 billion. Precisely thanks to the enormous volume of orders, the yield on the stock was revised to 185 basis points on the midswap rate. Which means yields below 4%. The first estimates instead traveled around 200 basis points.
Le banks leading the operation are Citigroup, Credit Agricole, Bank of America-Merrill Lynch, Royal Bank of Scotland and UniCredit. Since last month, when the company obtained the Standard & Poor's rating (BBB+ with positive outlook), this is the first bond launched by Luxottica.
Un decisive contribution the successful outcome of today's placement certainly came from the huge injection of liquidity into the banking system by the ECB, which with the Ltro and Lter2 it guaranteed the lenders of the eurozone respectively 489 and 530 billion euros with three-year loans at a yield of 1%.
Luxottica's latest bond it dated back to November 2010: at the time it was a five-year unrated bond, again for 500 million, with a coupon of 4%. At the end of the morning, the company title travel around parity in Piazza Affari.
