Waste Italia pays 12.625%, but gets bond
Waste Italia, a waste management subsidiary of Italy's Gruppo Sostenya, priced its debut bond on Thursday afternoon in New York time, though it had to sweeten the terms for investors.
The company is rated B2/B- with stable outlooks by Moody's and Fitch, and operates only in Italy. It sold 200m of five year non-call three senior secured high yield notes, with Jefferies as bookrunner.
The roadshow opened in London on November 3."We have seen interest from European as well ...