Matutencoop offers €450 million senior secured notes in two tranches

By Paul A. Harris

Portland, Ore., July 22 - Italy's Manutencoop plans to hold a roadshow for a €450 million two-part offering of senior secured notes this week, according to a market source.

The deal is coming in tranches of seven-year fixed-rate notes, which are non-callable for three years, and six-year floating-rate notes, which non-callable for one year.

JPMorgan, UniCredit, Banca IMI and Mediobanca are the joint bookrunners.

The Bologna, Italy-based facilities management company plans to use the proceeds to repay debt.

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