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MILAN - Webuild SpA announced Tuesday that a stabilization period for its new euro-denominated bond offering is expected to begin today and continue through August 2, 2025, according to a company press release.
The Italian construction and civil engineering firm is issuing notes due July 3, 2031, with the interest rate and aggregate nominal amount yet to be determined. The bonds will have a six-year maturity.
BNP Paribas (OTC:BNPQY) will act as the Stabilization Coordinator, while Bank of America Merrill Lynch (NYSE:BAC), BNP Paribas, Goldman Sachs, HSBC, Intesa Sanpaolo (OTC:ISNPY), JPMorgan, Natixis, and UniCredit will serve as Stabilization Managers.
During the stabilization period, the managers may over-allot securities or conduct transactions to support the market price of the securities at levels higher than might otherwise prevail. However, the press release noted that stabilization may not necessarily occur and any such action could cease at any time.
The announcement specified that the securities have not been registered under the United States Securities Act of 1933 and will not be offered or sold in the United States. The offering appears to be primarily targeted at qualified investors in the UK and European Economic Area.
Webuild, formerly known as Salini Impregilo (BIT:WBD), is one of Italy’s largest construction companies, known for infrastructure projects including dams, highways, railways, and metro systems worldwide.
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