Commentary & Deal Flow

Webuild SpA (IPGIM) has mandated BofA/GS/IMI - Intesa Sanpaolo/Natixis/UniCredit as joint lead managers, Banca Akros, BBVA, MPS Capital Services as co-managers, to arrange a series of fixed income investor calls, starting today. An up to EUR500m fixed rate Euro-denominated, RegS, Bearer, Senior unsecured bond issue with 5-yr tenor, rated NR/BB-/BB (--/neg/neg) may follow, subject to market conditions. An investor presentation and a preliminary prospectus will be made available on NetRoadshow. UOP: fund a tender offer for its EUR479.030m 3.75% sr notes due 06/24/21 (XS1435297202) at 101.625, and GCP. 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.