AS ROMA has priced its debut high-yield offering, paying a premium for its absence from the Champions League this coming season. The €275m of five-year non-call two senior secured notes were priced at 5.125%, the tight end of 5.25% area guidance. The issuer, asr media and sponsorship, is an SPV that manages the club's media, broadcast and sponsorship business as a separate entity from the football club. The deal mimics the structure of an Inter Milan bond issued in 2017.
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