Condotte d’Acqua starts roadshow for €300 million seven-year notes

By Paul A. Harris

Portland, Ore., April 27 – Italian construction company Societa Italiana per Condotte d'Acqua SpA began marketing a €300 million offering of seven-year senior notes (expected ratings B2/B+) on Monday, according to a market source.

The roadshow wraps up on Friday, and the deal is expected to price during the May 4 week.

Global coordinator Credit Suisse will bill and deliver for the Rule 144A and Regulation S for life offering. UniCredit is also a global coordinator.

Banca IMI, Banca Akros and Barclays are joint bookrunners

The notes come with three years of call protection.

The Rome-based company plans to use the proceeds to refinance debt.

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