Manutencoop makes it three Italian HYs
Manutencoop, an Italian facilities management business, wants to sell €450m of high yield bonds in another debut transaction from Italy. It released price guidance for the transaction on Thursday and plans to price the notes today (Friday).
The fixed rate notes have a €350m target size and were talked in the 8.25% to 8.5% area, while the €100m FRN was guided around 600bp to 625bp over Euribor at 99.5.
Books are due to close at 11am London time on Friday with pricing thereafter.JP Morgan ...