BANCA NAZIONALE DEL LAVORO LAUNCHES BOND/WARRANTS
Banca Nazionale del Lavoro (London
branch) is issuing a 120 mln dlr, five-year straight bond with
equity warrants, lead manager Credit Suisse First Boston Ltd
said.
    The issue, which matures April 3, 1992, has an indicated
coupon of 5-1/2 to six pct and par pricing. Fees total 2-1/4
pct and listing will be in Luxembourg. Payment date is April 2.
    The bonds will be sold in denominations of 1,000 dlrs with
one warrant attached, which will be exercisable between April
15, 1987 and April 3, 1992.
    Each warrant will entitle the holder to purchase 45 savings
shares of EFI Banca at a premium of about 10 pct above the
closing price on the Milan Stock Exchange on or before March
17.
    EFI is a medium-term credit institution, about 36-1/2 pct
owned by Banca Nazionale del Lavoro.
 REUTER
