Webuild tries again for bond refi after Astaldi takeover

By Owen Sanderson
03 Dec 2020

Webuild, the Italian construction company formerly known as Salini Impregilo, has launched a refinancing of its €600m 2021 bond, after finally completing the takeover of stricken competitor Astaldi at the beginning of last month. The new tender offer is intended to finish a refi attempt started in January, which received lacklustre take-up.

Webuild mandated Bank of America, Goldman Sachs, Banca Imi, Natixis and UniCredit this week to arrange a five year unsecured bond, which will be used to repurchase its 3.75% 2021 notes, of which €479m remain outstanding from the original €600m. It is offering 101.625 for the outstanding bonds, ...

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