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Telecom Italia 5-yr bond to be worth 1 bln euros-sources
September 13, 2012 / 9:47 AM / 5 years ago

Telecom Italia 5-yr bond to be worth 1 bln euros-sources

MILAN, Sept 13 (Reuters) - Telecom Italia’s five-year bond will be worth 1 billion euros and yield a revised 355 basis points over the midswap rate, sources close to the matter said, as orders exceeded 5 billion euros when books closed.

Initially the plan was for a 500 million-euro bond with a yield in area 375 basis points above midswap.

Telecom Italia has a ‘Baa2’ rating from Moody’s and ‘BBB’ from S&P’s and Fitch. (Reporting By Gabriella Bruschi)

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