Chicago, April 23 – Cassa depositi e prestiti SpA priced $1.5 billion of 5.875% five-year bonds (BBB/BBB) on Tuesday, according to a source.
The bonds priced at 99.161 to yield 6.072%, or at Treasuries plus 145 basis points.
Initial talk started in the Treasuries plus 170 bps area. As the order book hit $6.7 billion, guidance came in to the Treasuries plus 155 bps area.
Goldman Sachs International (billing and delivery) and BofA Securities were global coordinators for the Rule 144A and Regulation S formatted deal.
BNP Paribas, Citigroup, IMI-Intesa Sanpaolo, JPMorgan, Santander CIB, Societe Generale CIB and UniCredit joined BofA and Goldman as joint bookrunners.
Inclusive of around $525 million of interest from the bookrunners, the order book was greater than $9.9 billion.
Proceeds will be used for general funding purposes.
The development bank is based in Rome.
| Issuer: | Cassa depositi e prestiti SpA
|
| Amount: | $1.5 billion
|
| Issue: | Senior bonds
|
| Maturity: | April 30, 2029
|
| Bookrunners: | Goldman Sachs International (billing and delivery), BofA Securities (global coordinators), BNP Paribas, Citigroup, IMI-Intesa Sanpaolo, JPMorgan, Santander CIB, Societe Generale CIB and UniCredit
|
| Coupon: | 5.875%
|
| Price: | 99.161
|
| Yield: | 6.072%
|
| Spread: | Treasuries plus 145 bps
|
| Trade date: | April 23
|
| Settlement date: | April 30
|
| Ratings: | S&P: BBB
|
| Fitch: BBB
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | Treasuries plus 170 bps area, guided to Treasuries plus 155 bps area
|
| Marketing: | Presentation, calls
|
| ISIN: | US147918AC06, US147918AD88, XS2810863675
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
