Buzzi plans new US bond sale

Buzzi plans new US bond sale
Published: 21 September 2004

Italian cement maker Buzzi Unicem is considering the sale of $150 million to $160 million worth of bonds via private placements in the United States, the company’s deputy chairman said on Monday.  Franco Buzzi told analysts during a presentation that a decision would be taken towards the end of September.  Buzzi said the firm had consulted with lenders about the impact of scandals at Italian food groups Parmalat and Cirio, which defaulted on bonds.  The company was planning to issue smaller amounts than in previous US private placements, with shorter maturities, he told the analysts, confirming a newspaper report last week.  Merrill Lynch was advising Buzzi Unicem on its new private placement plan, Buzzi said.