Telecom Italia (TIT.MI) is planning a euro-denominated, benchmark long five-year bond, one of the banks leading the sale said Thursday.

Initial price guidance is in the area of 7.25% yield, equivalent to 505 basis points over midswaps.

BNP Paribas SA, Deutsche Bank AG, Citigroup Inc, Mediobanca Spa, Intesa Sanpaolo Spa, Credit Suisse AG and Banco Bilbao Vizcaja Argentaria SA are lead managers on the deal.

-By Serena Ruffoni, Dow Jones Newswires, +44 (0) 207 842 9349;

serena.ruffoni@dowjones.com

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