5-year unrated EUR 300 million bond successfully launched

Over the last few days, Kedrion Group SpA successfully completed the issuance of senior, unsecured and unrated bonds of 300 million euros, due in April 2019. They are fixed-rate bonds with a 4.625% yearly coupon. The bonds were issued at par (100%). Such bonds, which will have a minimum 100,000 euros denomination, have been placed with leading international institutional investors and will be listed on the Irish Stock Exchange by the date of accrual, 24th April 2014.
The transaction, officially announced at the end of a three-day European road show through London, Paris and Milan, was received remarkably well by the international financial community and was finally subscribed to by over 140 different categories of investors, with a demand that was 3 times greater than the amount of the bonds on offer, so that the issuer could reduce the initial suggested price by 25 basis points.
In keeping with the forecasts made in the 2014-2016 business plan, the proceeds from the issuance of such bonds will be mainly allocated to fully repay the Group’s current debt and to fund the development plans for the next five years.
Banca IMI SpA and Natixis acted as Joint Lead Managers and Joint Book-runners in the placement of such bonds.

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