October 5, 2017 / 5:53 AM / 12 days ago

Italy's Esselunga readies 1 bln euro bond issue - media

MILAN, Oct 5 (Reuters) - * Italian supermarket chain Esselunga is readying a 1.0 billion euro ($1.18 billion) bond it plans to place with institutional investors, La Repubblica daily reports

* The bond is expected to have a maturity of between 7 and 10 years and offer a yield of around 2 percent, the paper says

* According to Il Sole 24 Ore the bond will be worth 900 million euros

* Citi is the global coordinator for the issue, both papers say. Il Sole 24 Ore says UniCredit and Intesa Sanpaolo will help to place it with investors

* Esselunga will use the cash to refinance a bank loan it took out in June to buy 67 percent of a company that owns most of the shops operated by the retailer, la Repubblica says

* Esselunga’s revenue rose 3.4 percent in the first nine months of the year to 5.6 billion euros, la Repubblica says ($1 = 0.8507 euros) (Reporting by Valentina Za; Editing by Biju Dwarakanath)

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