UPDATE 1-Buzzi Unicem to launch bond; 9-month net drops
* 300-400 mln euro bond aimed at institutions
* Nine-month net profit 117.3 million euros
* Shares up 3.6 percent, outperforming sector
(Adds details on bonds, results, shares)
MILAN, Nov 11 (Reuters) - Italian cement maker Buzzi Unicem (BZU.MI) said it would issue a bond worth 300 million to 400 million euros ($599 million), as it seeks to tap new sources of funding at a time of increasing appetite for corporate debt.
"The company aims at diversifying the funding sources and lengthening the average debt maturity profile," the family-owned company said in a statement.
Separately, Buzzi on Wednesday posted a 60 percent fall in nine-month net profit to 117.3 million euros. It confirmed its guidance for a 40 percent fall in 2009 recurring core earnings before interest tax depreciation and amortisation.
"In the last part of the year, trading conditions in our markets will continue to be difficult, without real prospects for recovery," it said in another statement.
Buzzi said volumes remained weak and at much lower levels than in 2008, with a clear impact on results, as the construction industry continues to feel tough international economic trends.
At 1432 GMT, Buzzi shares were up 3.6 percent at 11.66 euros, and the DJ Stoxx construction and building materials index .SXOP was up 1.1 percent. (Reporting by Danilo Masoni, editing by Will Waterman) ($1=.6674 Euro)
