Telecom Italia has completed the placement of the 10-year senior bond, announced in the morning. The issue will be for 1,25 billion euro against orders that have exceeded 5 billion euro. The final price was set at 157 basis points above the midswap rate compared to an initial indication of 180 basis points. The company communicates it.
The security will expire in October 2027 and will pay a fixed annual rate. Telecom is rated Ba1 by Moody's, BB+ by S&P and BBB- by Fitch. The operation is managed by Banca IMI, Citi, Deutsche Bank, Jp Morgan, Mediobanca and Unicredit in the role of joint bookrunners. Other bookrunners involved in the placement are Banc Bilbao, Goldman Sachs, Ing, Santander and Smbc Nikko.
