Italy’s Lutech to sell €275 million six-year secured notes

By Paul A. Harris

Portland, Ore., May 11 – Lutech SpA, an Italian information technology services provider, plans to sell €275 million of six-year senior secured notes (expected ratings B2/B), according to a market source.

Joint global coordinator and joint physical bookrunner BNP Paribas will bill and deliver. Deutsche Bank is also a joint global coordinator and joint physical bookrunner.

IMI - Intesa San Paolo, NatWest Markets, Nomura and UniCredit are the joint bookrunners.

The Rule 144A and Regulation S notes become callable after three years at par plus 50% of the coupon.

The issuing entity will be Libra Groupco SpA.

Proceeds will be used to finance the acquisition of the Milan-based company, as well as to pay off Lutech debt, and for general corporate purposes, including acquisitions.

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