Pirelli places €500m convertible as cyclical stocks surge
![Pirelli_2_PA_575_375](https://assets.euromoneydigital.com/dims4/default/6f9a87b/2147483647/strip/true/crop/575x375+0+0/resize/840x548!/quality/90/?url=http%3A%2F%2Feuromoney-brightspot.s3.amazonaws.com%2F9b%2Feb%2Ffa7ec09ef016d37abf1e3ebb0f4b%2Fpirelli-2-pa-575-375.jpg)
Pirelli, the Italian tyres company, has issued its first convertible bond since its re-IPO on the Milan Stock Exchange in 2017, raising €500m.
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