Tamburi Investment Partners – independent and diversified industrial group that invests in entrepreneurial excellence and listed on the Euronext STAR Milan segment of Italian stock exchange – concluded the placement of a €290.5 million Euronext Milan senior unsecured bond.
EQUITY assisted Tamburi Investment Partners as placement agent and joint bookrunner.
The issue – with a duration of 5 years and with a fixed coupon of 4.625% – reached the initially expected amount of 250 million in just a few hours, thanks to the strong demand collected in the pre-marketing phase and despite a context of general uncertainty in Europe after the elections. The strong market interest therefore led the company to further increase the size of the offer, which then closed at 290.5 million euros.
The proceeds from this issue – the company’s second and the largest of the Euronext Milan Bonds in the last 5 years – will be used by Tamburi Investment Partners for general corporate purposes, including the refinancing of the existing 2019-2024 TIP bond.
The operation qualifies as the second Euronext Milan Bond issue completed by the EQUITA team over the last month and the seventh in total since the beginning of the year. The investment banking team and the operations room thus strengthen their track record alongside bond issuers in their processes of placing corporate bond issues on the Italian market.
In the photo, Marco Clerici, co-head of Investment Banking at EQUITA.
