IT Holding €185 million notes talked 10% area, up from 9¼% to 9½%

By Paul A. Harris

St. Louis, Oct. 18 - IT Holding Finance SA's €185 million offering of eight-year senior notes was talked in the 10% area, up from 9¼% to 9½%, according to an informed source.

The deal is expected to price on Tuesday.

The notes are non-callable for four years.

Merrill Lynch & Co. is the bookrunner for the Rule 144A/Regulation S offering, which has no registration rights. Banca IMI is the joint lead manager.

The notes will be guaranteed by IT Holding and other subsidiaries.

Proceeds will be used to refinance Gianfranco Ferre's 7% notes due May 2005.

IT Holding is a Milan, Italy-based holding company for fashion brands including Versace, Dolce & Gabbana, and Roberto Cavalli.

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