Buzzi Unicem successfully completes €200mn bond issue

Italian cement and construction material manufacturer 1451 Buzzi Unicem has successfully completed the issue of its €200 million equity-linked bond. The value of the bond could yet rise by an additional €20 million, dependent on the greenshoe option.

The initial conversion price for the securities has been set at €15.9860, representing a 35% premium on the average weighted trading price, while they will pay a six-monthly coupon of 1.375% a year.