NOT TO BE PUBLISHED OR DISTRIBUTED IN THE UNITED STATES, AUSTRALIA, CANADA AND JAPAN
Milan, 2 December 2019 – Today Italgas SpA (rating BBB+ by Fitch, Baa2 by Moody’s) successfully priced a new fixed rate note issue, with December 2031 maturity for an amount of 500 million euros with an annual coupon of 1% under its EMTN Programme (Euro Medium Term Notes), renewed by resolution of the Board of Directors on September 23, 2019.
The new issue represents for Italgas its longest tenor and has gathered more than 1.5 billion euros of orders from a high quality and geographically diversified investors base.
The relevant proceeds will be used in whole or in part to repurchase two out of its outstanding bonds with notional equal to 750 million euros (due 2022) and 650 million euros (due 2024), through a Tender Offer launched this morning.
Joint Bookrunners of the placement, restricted to institutional investors only, were Banca IMI S.p.A., BNP Paribas, Citigroup Global Markets Limited, Goldman Sachs International, J.P. Morgan Securities plc, Mediobanca S.p.A., Société Générale and Unicredit Bank AG.
The bond will be listed on the Luxembourg Stock Exchange.
Details are as follows:
Amount: 500 million euro
Maturity: 11 December 2031
Annual coupon: 1%
Issue price: 99.27
This announcement (and the information contained therein) does not constitute or form part of any offer to sell nor a solicitation of any offer to buy any securities nor shall there be any offer of securities in any jurisdiction in which such offer or sale would be unlawful. It may be unlawful to distribute this announcement in certain jurisdictions. This announcement does not constitute an offer of securities for sale in the United States, in Australia, Canada and Japan and in any jurisdiction in which such offer or sale would be unlawful and is not for publication or distribution in any such jurisdictions. The securities referred to in this announcement have not been and will not be registered under the US Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This announcement is not a public offer of financial products in Italy as per Article 2 letter, d) of Regulation (EU) 2017/1129. The documentation relating to the offer has not been/will not be submitted to the approval of CONSOB.