Il bond in two tranches, one 3 and one 6 years, launched on Monday by Telecom Italia, would have, at the moment, collected approx 5 billion euros. Leading the operation, as bookrunners, are Barclays, JP Morgan, Credit Agricole, RBs and SOciete Generale.
As far as yields are concerned, the indication has been revised slightly lower than initial expectations. For 3-year bonds, in fact, the yield is 380 basis points above the midswap rate, compared to an initial spread between 385 and 395 points, while as regards the 6-year tranche the yield is 475 basis points, against the 480-490 gap.
