Italgas places bonds for 650 million euros, with demand exceeding the offer by six times

Milan, February 1st, 2023 – Today Italgas S.p.A. (rated BBB+ stable by Fitch, Baa2 stable by Moody's) successfully priced a new bond issue, due 8 February 2029, at fixed rate and for an amount of 650 million euros. The issuance attracted a maximum demand of 6 times allowing to increase the initial amount of 500 million euros and was characterized by high-quality and broad geographically diversified investor base.

The issuance took place under the EMTN Programme (Euro Medium Term Notes) renewed by resolution of the Board of Directors on September 29^th 2023, with a total amount of 6.5 billion euros.

The bond has a maturity of 5 years, maturing in February 2029, with an annual coupon of 3.125%, and a spread of 83 basis points over the midswap

The proceeds from the issuance will be used to meet the financial needs outlined in the 2023-2029 Strategic Plan.

Joint Bookrunners of the placement, restricted to institutional investors only, were BNP Paribas, J.P. Morgan, Intesa Sanpaolo (Divisione IMI CIB), Mediobanca, Citi, Morgan Stanley, Société Générale and UniCredit.

The bond will be listed on the Luxembourg Stock Exchange. Details of the note are as follows:

• Amount: 650 million euros
• Maturity: February 8^th, 2029
• Annual coupon: 3.125%
• Issue price: 98.975