Terna today launched the issuance of a benchmark bond for an amount of 750 million euros maturing in February 2018. The operation is managed by Credit Suisse, Deutsche Bank, Mediobanca, Morgan Stanley, Societe Generale and Unicredit. The company that manages the national electricity grid will price the bond at 193 basis points, the minimum threshold of the indications set between 193 and 197 points. At the end of the morning, order collection had already exceeded two billion euros.
Terna has a Baa1 rating according to Moody's, A- according to Standard & Poor's and A according to Fitch. Just over an hour after the close of the markets, the company's stock lost 0,6% in Piazza Affari.
Among other news on the subject of corporate bonds, Banco Popolare and Unicredit Bank Austria yesterday postponed two bond issues due to the excess supply of domestic paper on the market, given that again yesterday 2 billion were placed by Enel and 1,25 billions from Entente.
