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Telecom Italia to sell 1-bn-euro, 7-year 'junk bond'

First time company sells debt since Standard & Poor's cut rating

16 January, 16:28
Telecom Italia to sell 1-bn-euro, 7-year 'junk bond' (ANSA) - Milan, January 16 - Telecom Italia is readying itself for the issue of its first 'junk bond', the first time it is selling debt since Standard & Poor's cut its ratings.

The company is gearing up to sell a one-billion-euro, 7-year bond bearing a yield that it 300 basis points above standard mid-swap rates, according to financial sources close to the company.

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