by Stephen Carter
Dec 03, 2020 12:20 PM ET
Webuild SpA (IPGIM) EUR550m (up from EUR500m and EUR400m minimum) Reg S bearer sr unsec notes due Dec 15, 2025 (5y). NCL (MWC B+50bp) (6mo par call). NR/BB-/BB (--/CreditWatch neg/neg). Via BofA/GS (B&D)/IMI - Intesa Sanpaolo/Natixis/UniCredit as joint physical books, Banca Akros, BBVA, MPS Capital Services as co-managers. Annual pay (Act/Act). List Dublin. English law. Settles 12/15 (T+8). ISIN: XS2271356201. IPT: 6.25% area. Px talk: 6.00% area (+/-12.5bp) WPIR. Final terms: EUR550m to yield 5.875%.
Priced: 5.875% at 100. +663bp vs DBR 1% Aug 2025. ms+633bp.
Investor calls started Tues. Books closed at 1:30pm UKT (changed from 12:45pm UKT). 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.