Sogefi closes private placement for $115 mln

MILAN Mon May 20, 2013 3:06am EDT

MILAN May 20 (Reuters) - Italian auto parts maker Sogefi said on Monday it sold a ten-year, $115 million bond to institutional investors in the United States.

The group will also issue a second bond worth 25 million euros ($32.06 million).

After Sogefi has hedged the exchange rate risk, the average fixed rate coupon of the two issues will be 5.6 percent, the company said. ($1 = 0.7798 euros) (Reporting by Jennifer Clark)