Piaggio sets 4.625 pct minimum coupon on 7-yr bond in debt exchange

MILAN, April 14 Mon Apr 14, 2014 4:44am EDT

MILAN, April 14 (Reuters) - Italian scooter maker Piaggio has set at 4.625 percent the minimum coupon on a new 2021 senior bond to be offered in exchange for a senior bond due in December 2016, the company said on Monday.

Piaggio said earlier this month it was offering holders of its 150 million euro 2016 bond to exchange their notes at a price of 104.5 with a new seven-year bond to be issued at par for a total of 200 million euros.

(Reporting by Valentina Za)

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