Issuer : SNAI S.p.A.
Country : Italia
Sector : Diversified Operations
Sec Type : Senior Secured Notes | Senior Subordinated Notes
Amount : € 300,000,000 | € 160,000,000
Maturity : 4.5NC2 | 5NC2
Expected ratings: : Mid to high single B | High CCC
UOP : Repay existing debt, fees and expenses
Biz : Market leader in sports and horse race betting in Italy
Distribution : RegS/144a for life
Min. Denominations : € 100,000 x € 1,000
Joint Physical Bookrunners : JPM (B&D) / Banca IMI / UniCredit
Joint Bookrunner : DB
*** PRICE TALK & TIMING ***
- Price talk: 7.75-8.00% €300mm Senior Secured Notes
12.25-12.50% €160mm Senior Subordinated Notes
- Timing: U.S. books close end of day today
Europe books close 10AM UK tomorrow. Pricing thereafter