Sisal Pay launches €530m HY bond after teaming up with Intesa

By Karoliina Liimatainen
03 Dec 2019

CVC-backed financial technology firm Sisal Pay is marketing a €530m issue of senior floating-rate notes to finance a merger with Intesa Sanpaolo-owned Banca 5’s payments business. The new venture is aiming to be the next Nexi, another Italian fintech star that listed recently and has had success in the high yield bond market too.

The roadshow started on Monday and Tuesday in London, followed by Paris and Frankfurt on Wednesday, to be concluded in Milan on Thursday.

The FRNs are due in seven years and are non-callable for one year. The notes are expected to get a rating of B2/BB-.

UBS is the lead ...

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