Beni Stabili sails through choppiness for tidy €350m four year
Beni Stabili, the Italian property company, launched a senior unsecured bond today that was seen as a debut. The unrated company has sold convertibles and securitisations before but to assess relative value, investors looked to other issuers.
Beni Stabili had roadshowed in November with Crédit Agricole, JP Morgan, Mediobanca and UniCredit, but delayed issuing its bond in the hope of getting better pricing.
“They have issued today probably a quarter percentage point tighter than they could have done then,” said a banker at one of
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