Finmeccanica launches 5-year benchmark bond - leads

MILAN Wed Nov 28, 2012 5:57am EST

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MILAN Nov 28 (Reuters) - Italy's defence and aeronautics group Finmeccanica has launched a five-year benchmark bond, two lead managers told Reuters on Wednesday.

The bond has a yield indicated in an area of 380 basis points over the midswap rate, they said.

Benchmark bonds are usually worth at least 500 million euros ($647 million).

The banks managing the issue are Banca IMI, Bnp Paribas, JP Morgan and UniCredit.

Finmeccanica has a 'Baa3' rating with Moody's and 'BBB-' with S&P's and Fitch.