Italy: FIS raises €350m with 5 1/2 year (NC2) high yield sustainability-linked bond

Fabbrica Italiana Sintetici (FIS), a manufacturer of chemical products for the pharmaceutical industry, has placed a €350m (US$399.3m) sustainability-linked bond due August 2027 (non-callable for two years). The high-yield bond, rated B/B3/B+, pays a coupon of 5.625% and was priced at par to yield 570 basis points over the 0.5% German Bund due August 2027….