Demand for Ferrari's debut bond surpasses 2.25bn

March 9, 2016 11:55 AM

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LONDON, March 9 (IFR) - Demand for Ferrari's inaugural euro-denominated bond issue is in excess of 2.25bn according to a lead, allowing the lead managers to substantially tighten price guidance.

The Italian sports car maker began marketing an expected 500m seven-year transaction at mid-swaps plus 160bp area on Wednesday morning. This level has now been revised to mid-swaps plus 145bp area.

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