(Alliance News) - Italgas Spa on Thursday launched on the market a new fixed-rate bond issue with a 5-year maturity and expected nominal value of EUR500 million.

The placement, aimed only at institutional investors, is organized and led as joint bookrunners by BNP Paribas, JPMorgan, Intesa Sanpaolo Divisione IMI CIB, Mediobanca, Citi, Morgan Stanley, Société Générale and UniCredit.

"The transaction responds to a logic of pre-funding of financial requirements, consistent with Italgas' strategy of optimizing its debt structure," the company specified in a note.

Italgas is down 0.9 percent at EUR5.24 per share.

By Chiara Bruschi, Alliance News reporter

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