Lehman runs its first European equity-linked bond of 2002.

Financial News, July, 2002

Byline: Shanny Basar

Lehman Brothers was a bookrunner on a European equity-linked issue for the first time this year as the US bank sold a [euro]350m ($343m) exchangeable bond for Olivetti, the holding company that controls Telecom Italia.Lehman has close links with the Italian telecoms group. The US bank was one of the bookrunners of Olivetti's [euro]2.4bn convertible issue last November that was part of the Italian company's rights issue, alongside seven Italian banks and BNP Paribas, JP Morgan and Merrill Lynch.

Lehman and Merrill, together with Mediobanca, also led a [euro]2.5bn exchangeable from Tecnost into Telecom Italia in November 2000. Tecnost was an Olivetti subsidiary that has now been merged into its parent.

Merrill would have...

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