Astaldi talks €150 million tap of 7 1/8% notes due 2020 at 104.5-105; pricing expected Tuesday

By Paul A. Harris

Portland, Ore., Feb. 11 - Rome-based construction group Astaldi SpA talked an upsized €150 million add-on to its 7 1/8% senior notes due Dec. 1, 2020 at 104.5 to 105, markets sources said.

The quick-to-market deal, upsized from €100 million, is set to price Tuesday.

Deutsche Bank is the bookrunner.

The notes become callable on Dec. 1, 2016 at 103.563.

Proceeds will be used to repay debt.

The original €500 million issue priced at par on Nov. 27, 2013.

A previous €100 million add-on priced at 102.25 to yield 6.716% on Dec. 2, 2013.

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