Italy’s Almaviva selling €350 million five-year secured notes

By Paul A. Harris

Portland, Ore., Oct. 20 – Almaviva SpA plans to sell €350 million of five-year senior secured notes, according to market sources.

Goldman Sachs is the left bookrunner. BNP Paribas is the joint bookrunner.

The notes come with two years of call protection.

The Rome-based information technology company plans to use the proceeds to pay off its €250 million of 7¼% senior secured notes due 2022, to pay off and retire its revolver and for general corporate purposes, including potential future bolt-on acquisitions.

Almaviva also announced that it will enter into a new €70 million senior secured revolver, which will be used for general corporate purposes and working capital.

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