Italy's Italcementi eyes high 6% area yield for €350 million minimum five-year notes

By Paul A. Harris

Portland, Ore., Feb. 13 - Italcementi SpA hopes to print a yield in the high 6% area on a €350 million minimum offering of five-year senior notes, according to a market source.

The deal, which is being led by Banca IMI, BNP Paribas, Credit Agricole CIB, Natixis and UniCredit, could price as early as Thursday.

The Regulation S only notes are non-callable.

The Bergamo, Italy-based cement company's corporate credit ratings are Ba2 from Moody's Investors Service and BB+ from Standard & Poor's.

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