Italy’s Lazio gets tenders for all floaters, 99.24% of 6.022% notes

By Susanna Moon

Chicago, Nov. 29 – Italy’s Regione Lazio said it received tender instructions for all of the €200 million floating-rate notes due March 7, 2028 and $446.6 million of the $450 million 6.022% notes due March 7, 2033.

Lazio is still undecided on the amount of notes to be purchased in the offers, according to a press release by the region.

As announced Nov. 20, the notes were issued through Cartesio Srl under its asset-backed euro medium-term note program.

For the floating-rate notes, the purchase price is 95.95% of par.

For the 6.022% notes, pricing will be set at 7 a.m. ET on Dec. 1 using a yield of the interpolated mid-swap rate plus 133 basis points.

Holders will also receive accrued interest up to but excluding the settlement date.

The Regulation S tender offers ended at 11 a.m. ET on Nov. 28, with settlement expected to occur Dec. 6.

The dealer manager is Deutsche Bank AG, London Branch (+44 20 7545 8011). The tender agent is Lucid Issuer Services Ltd. (+44 207 704 0880 or lazio@lucid-is.com).

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