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Rossini’s €650 million eight-year floating-rate notes talked at Euribor plus 450 bps area
By Paul A. Harris
Portland, Ore., Oct. 15 – Rossini Sarl guided a €650 million offering of eight-year floating-rate notes (B3) with a 450 basis points spread to Euribor, according to market sources.
Deutsche Bank is leading the deal.
The notes come with one year of call protection.
The Milan-based pharmaceutical company, which makes it corporate headquarters in Luxembourg, plans to use the proceeds to pay off its existing floating-rate notes and fund cash on its balance sheet.
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