Snam Plans Four-Year Euro Benchmark Bond Issue
July 04 2012 - 4:16AM
Dow Jones News
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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