Registration: Reg S Only; Comments: 01/21/2021 Webuild SpA (IPGIM) EUR200m (up from EUR150m) add-on to its 5.875% Reg S bearer sr unsec notes due Dec 15, 2025 (5y). NCL (MWC ms+50bp) (6mo par call). Expect NR/BB-/BB (--/watch negative/negative). Via BofA/GS/IMI - Intesa Sanpaolo/Natixis/UniCredit (B&D) as joint physical books, Banca Akros, BBVA, Equita as co-managers. Annual pay (Act/Act). List Dublin. English law. Settles 01/28 (T+5). ISIN: XS2292234269, will funge with the EUR550m issue (XS2271356201) priced 12/03/20 after 40-days. IPT: 101.50 area. Px talk: 101.75-102.00. Final px and size: EUR200m at 102.00. Priced: 5.875% at 102.00, yield 5.394%. +612bp vs DBR 1% Aug 2025. Books closed at 2:30pm UKT (originally closing at 12:30pm UKT) 01/21/2021. UOP: refinance debt (EUR50m upsize also to refi debt). Biz: (fka Salini Impregilo) an Italian global player in construction industry specialized in complex infrastructure for the sustainable mobility, hydroelectric energy, water and green buildings sectors. HQ: Milan, Italy.;