INWIT (Italian Wireless Infrastructures) said it successfully concluded its second bond issue for a total of €750 million — with market demand exceeding four times the offer.

The eight-year fixed rate bond with a coupon of 1.625% was issued as part of INWIT’s Euro Medium Term Notes Programme (EMTN) and is intended for institutional investors.

INWIT CEO Giovanni Ferigo said: “The excellent quality and high number of orders allow us to extend the duration of our debt and to optimise the cost and represent new recognition of the solidity of our business and industrial design in accelerating the country’s digitisation process.”

The placement was supported by a pool of lbanks comprising BNP Paribas, Crédit Agricole CIB, HSBC, Mediobanca and Unicredit as joint bookrunners, and by Banca Akros, Banca IMI, BBVA, BofA Securities, and SMBC Nikko as other bookrunners.

More than 300 national and international investors showed interest in the issue.

The securities will be listed on the regulated market of the Luxembourg Stock Exchange.

INWIT is ranked as Investment Grade BBB- with a stable outlook by Fitch Ratings, and BB+ with a stable outlook by Standard and Poor’s.