ION’s Prelios Pre-Markets Bonds to Repay Bank Buyout Debt

Italian alternative asset management company Prelios SpA is pre-marketing a bond offering to refinance debt provided by banks for its acquisition by ION Group.

Bankers at BNP Paribas SA have been leading the sale effort, said people familiar with the matter, who spoke on the condition of anonymity. ION finalized the purchase of Prelios last year, tapping €600 million ($667 million) from banks including UniCredit SpA, Intesa Sanpaolo SpA and BNP Paribas.

The bond proceeds would go toward repaying that debt as well as covering fees and expenses related to the transaction, said the people. Pre-marketing such a ...