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Snam Plans Four-Year Euro Benchmark Bond Issue

Date : 07/04/2012 @ 4:16AM
Source : Dow Jones News
Stock : JP Morgan Chase & Co. (JPM)
Quote : 63.97  -0.13 (-0.20%) @ 7:52PM
JP Morgan Chase share price Chart

Snam Plans Four-Year Euro Benchmark Bond Issue

Snam (BIT:SRG)
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   By Ben Edwards 

Italian natural gas grid operator Snam SpA (SRG.MI) is planning a benchmark-size, euro-denominated, four-year bond, one of the banks running the deal said Wednesday.

Initial price thoughts are in the area of 350 basis points over midswaps.

Banca IMI, BNP Paribas SA, JPMorgan Chase & Co. and UniCredit SpA are the lead managers of the sale.

The issuer is rated Baa1 by Moody's Investors Service Inc. and A- by Standard & Poor's Corp.

Snam met with investors across Europe at the end of June.

Write to Ben Edwards at ben.edwards@dowjones.com

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