March 9, 2016 / 10:14 AM / a year ago

Ferrari opens books on inaugural bond - lead

LONDON, March 9 (IFR) - Ferrari has opened order books on an inaugural euro-denominated issue via joint bookrunners BNP Paribas, Citi and JP Morgan.

The Italian sports car maker is marketing an expected 500m seven-year transaction at mid-swaps plus 160bp area.

The trade, which will not be rated, is expected to be priced later today.

Banca IMI, Bank of America Merrill Lynch, Credit Agricole, Mediobanca, Societe Generale, UBS and UniCredit are also bookrunners for the deal.

Reporting by Helene Durand, editing by Julian Baker

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