Italy's Lottomatica to sell €300 million hybrid notes in Nov. 22 week

By Paul A. Harris

St. Louis, Nov. 17 - Italy's Lottomatica Group SpA plans to price a €300 million offering of subordinated interest-deferrable capital securities due 2070 (Ba2/BB) during the Nov. 22 week, according to a market source in London.

Credit Suisse is leading the deal among a syndicate of banks that includes Deutsche Bank and Mediobanca.

Proceeds will be used to refinance debt.

The Italian gaming company is concurrently in the market with a €500 million offering of investment-grade senior notes (Baa3/BBB-).

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