Occhi aperti per questo... prima della fine di gennaio 2011, dicono, e certo bisognerà valutare il rendimento offerto. Rating virtuale attorno a BBB, vediamo se sarà a 5 anni.
- OCTOBER 25, 2010, 11:51 A.M. ET
Luxottica Board Approves Plan To Issue EUR500 Million Bond
ROME (Dow Jones)--Luxottica Group SpA (LUX) said Monday it plans to sell a EUR500 million bond, the Italian eyewear company's first public Eurobond issue.
Luxottica's board approved the issue of senior long-term notes in a deal to be done before the end of January 2011 "in order to exploit favorable market conditions and extend the average maturity of the debt," the company said.
BNP Paribas SA, Deutsche Bank AG, Intesa Sanpaolo SpA and Mediobanca SpA will be joint lead managers and bookrunners, Luxottica said.
The planned bond is the latest in opportunistic tapping of debt markets by companies with no evident need for cash.
Luxottica generated EUR250 million in free cash flow during the third quarter, helping it reduce its net debt to EUR2.27 billion at the end of September, about 2.3 times this year's expected earnings before interest, taxes, depreciation and amortization. Luxottica's market capitalization is about EUR10 billion.