Beni Stabili SpA SIIQ launched the issue of €300 million of 1.625% senior unsecured notes due October 2024.
The notes were priced at a spread of 115 basis points over the reference swap rate, and the issuance was around 7x oversubscribed, for total orders of over €2 billion.
The notes will be issued at a re-offer price of 99.47%, with settlement slated for Oct. 17.
Net proceeds will be used to refinance existing debt and for general corporate purposes.
Banca IMI SpA, BNP Paribas, Crédit Agricole Corporate and Investment Bank, Société Générale Corporate & Investment Banking and UniCredit Bank AG were the joint lead managers for the offering.