Italgas slips in for €500m as bond market dims

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By Mike Turner
02 Dec 2019

Italgas, the Italian gas distributor, issued a €500m 12 year bond on Monday, although syndicate bankers said they expected deal flow to diminish to a trickle over the week.

Italgas, rated Baa2/BBB+, opened books on its deal at 105bp over mid-swaps, before whittling the spread down to 83bp at pricing on books of more than €1.2bn.

At the same time, Italgas has launched a tender offer for its €750m 0.5% January 2022 bonds and its €650m 1.125% March ...

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