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05/27/2010 / ITALY / DEBT & CREDIT MARKETS
Crédit Agricole CIB lead manager in Telecom Italia benchmark bond issue
On February 3, 2010, Crédit Agricole CIB acted as joint lead manager for the new Telecom Italia SpA EUR 1,250 million 12-year senior bond. The issue holds a coupon of 5.25% and is due on February 10th 2022.
The other joint lead managers were Bank of America, Merrill Lynch, Banca IMI, Deutsche Bank and Société Générale CIB.
Telecom Italia decided to take advantage of the favourable market conditions of the first days of February with a perfect timing and the bond issue met a considerable success: orders in excess of EUR 5 billion were collected in a short time of book opening. The deal was part of the group’s debt refinancing process and clearly shows investors confidence in the Telecom Italia credit.