Beni Stabili may repurchase €225 million 3.875% convertibles due 2015

By Susanna Moon

Chicago, Oct. 8 - Beni Stabili SpA Siiq said it may repurchase its outstanding €225 million 3.875% convertible bonds due 2015 through a reverse bookbuilding.

If any bonds are repurchased, the price would be 102.75% of par plus accrued interest, with settlement taking place on Oct. 18, according to two separate company press releases.

The company said it may decide at any time to close the reverse bookbuilding.

Any repurchased bonds would be canceled.

The company priced a €230 million placement of 2.625% 5.5-year bonds with a €40 million greenshoe on Oct. 8 with settlement set for Oct. 17.

Mediobanca - Banca di Credito Finanziario SpA will be the global coordinator, and Banca IMI SpA, BNP Paribas and BofA Merrill Lynch will be the joint bookrunners.

Beni Stabili is a Rome-based real estate company focused on office properties in northern and central Italy.

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