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GC Asia
Milan airport unrated debut flies on infra bid
SEA, the Italian company that operates Milan’s Linate and Malpensa airports, issued its first bond on Monday, a €300m unrated issue. The deal showed the strength of demand for airport bonds, of which there have been three within a week.
“People love them,” one banker said. “They’re infrastructure with a bit of spread. Investors have really come to appreciate them since the days when Heathrow was issuing a lot of debt and it was a bit of a drag.”
Bookrunners BNP Paribas, Mediobanca and Morgan Stanley had taken ...Already a subscriber? Login
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