Autostrade per l’Italia hits 12 year to fund tender

Autostrade per l'Italia
By Nigel Owen
21 Sep 2017

Autostrade per l’Italia, the Italian toll road operator, on Monday printed a €700m 12 year deal to finance a tender offer for up to €650m shorter dated bonds.

With rates currently at historically low levels, many issuers are calling shorter dated bonds with relatively high coupons and issuing 10 year, 12 year and sometimes longer tenor bonds to lock in the low interest rates before they start to rise again.

Autostrade offered to buy bonds ...

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