Webuild sets talk on €400 million five-year notes in low-7% area; pricing Wednesday

By Paul A. Harris

Portland, Ore., Sept. 19 – Webuild SpA (BB/BB) set initial guidance in its €400 million offering of five-year senior notes in the low-7% area, according to a market source.

The deal is expected to price on Wednesday.

BofA Securities, BNP Paribas, Goldman Sachs International, HSBC, IMI - Intesa Sanpaolo, Natixis and UniCredit are managing the sale.

The Rome-based construction and civil engineering group plans to use proceeds from the Regulation S offering to repay debt, including the concurrent tender offer for €500 million of its 1¾% notes due October 2024 and €750 million of its 5 7/8% notes due December 2025.

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