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GC Asia
Big bid for Snam as investors ignore war fears
Snam, the Italian gas transport network, found very strong demand on Wednesday for a €500m bond issue, as investors ignored the threat of war between Russia and Ukraine and piled into West European corporate credit.
The Baa1/BBB+ rated company was spun out of Eni, Italy’s national oil and gas champion, in 2012, when it began issuing debt in its own name.
Having issued €6bn of bonds in 2012 and €2.55bn in 2013, Snam has been taking it easier this year. It sold a ...Already a subscriber? Login
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