Reno de Medici talks €590 million five-year secured floaters at Euribor plus 500 bps at 98-98.5

By Abigail W. Adams

Portland, Me., March 25 – Reno de Medici SpA talked its €590 million offering of five-year senior secured sustainability-linked floating-rate notes (B2/B/BB-) at Euribor plus 500 basis points and a discounted offer price of 98 to 98.5, according to a market source.

Books close at 8 a.m. ET on Wednesday with pricing expected thereafter.

The notes are non-callable for one year.

Barclays (bill and deliver) and BNP Paribas Securities Corp. are bookrunners for the Rule 144A and Regulation S offering.

Intesa Sanpaolo, UBS Securities LLC and UniCredit Capital Markets LLC are also bookrunning managers.

Proceeds will be used to refinance the company’s floating-rate notes due 2026 and its term loan A.

Reno de Medici is a Milan, Italy-based cardboard manufacturer.

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