New York, Sept. 27 - Fondiaria-SAI SpA said its Sainternational SA subsidiary issued €164 million of six-year bonds mandatorily exchangeable for Banca Intesa SpA shares to yield 6.10% with a 35.13% initial conversion premium.
The deal priced in the middle of talk which put the yield at 5.40% to 6.65% and the conversion premium at 31% to 38%.
Mediobanca was bookrunner for the Regulation S deal.
Fondiaria is based in Milan, Italy.
| Issuer: | Sainternational SA subsidiary of Fondiaria-SAI SpA
|
| Underlying stock: | Banca Intesa SpA
|
| Issue: | Mandatory exchangeable bonds
|
| Amount: | €164 million
|
| Greenshoe: | €16.4 million
|
| Maturity: | Sept. 29, 2010
|
| Coupon: | 6.10%
|
| Price: | Par
|
| Yield: | 6.10%
|
| Initial exchange premium: | 35.13%
|
| Exchange price: | €4.10
|
| Pricing date: | Sept. 27
|
| Bookrunner: | Mediobanca
|
| Distribution: | Regulation S
|
| Price talk: | Yield: 5.40%-6.65%
|
| Conversion premium: 31%-38%
|
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