Foreign investors took up 70 pct of Pirelli bond-source

MILAN, Oct 12 (Reuters) - Foreign investors have bought 70 percent of a 150 million-euro ($194 million) exchangeable bond issued by Italian holding company Camfin to repay debt, a source close to the matter told Reuters on Friday.

The five-year bond is convertible into shares of tyre maker Pirelli , which is controlled by Camfin. The issue was launched on Friday.

The source said demand was 2.3 times the amount on offer. Camfin will use 132 million euros to repay debt due at year-end and the rest to help rescue loss-making real estate group Prelios in which Camfin has a 14.8 percent stake. ($1 = 0.7726 euros)

(Reporting by Andrea Mandala')

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