Telecom Italia launches €850 million five-year senior bullet notes with 6 7/8% coupon

By Paul A. Harris

Portland, Ore., Jan. 20 – Telecom Italia SpA launched an €850 million offering of TIM SpA five-year senior bullet notes (B1) with a 6 7/8% coupon on Friday, according to market sources.

Official talk comes inside of early guidance in the low-7% area.

Goldman Sachs and JPMorgan are the lead bookrunners. BNP Paribas, Credit Agricole, UniCredit, SMBC and MUFG are joint bookrunners.

The Turin, Italy-based telecom plans to use the proceeds to repay debt.

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