Tuesday Poste Italiane has placed on the market dtwo bonds with a 4 and 8 year maturity. Each issue counts 500 thousand euros. Demand was very strong: against a total offer of one billion euro, requests exceeded six billion. Poste Italiane communicates it.
For the yield, the four-year bond was placed at 45 basis points above the midswap (from an initial guidance in the area of 80 basis points above the midswap), while that with an eight-year maturity reached 85 points above the midswap (the initial range was area of 120 bp above the reference rate). Titles will pay a fixed annual rate.
On the side of the rating, Poste Italiane expects a Baa3 rating from Moody's and a BBB rating from S&P.
The placement was managed by Goldman Sachs International, IMI-Intesa Sanpaolo and JP Morgan as global coordinators. The same banks also played the role of bookrunner together with Bnp Paribas, Deutsche Bank and Unicredit.
About two hours after closing Poste Italiane shares on the Stock Exchange it loses 1,5%, to 8,478 euros. In the same minutes, the Ftse Mib dropped 1,2%, at 21.840 points, weighed down by the collapse of bank stocks.
