CONSENT TO USE OF COOKIES ON INITIAL ACCESS TO THE WEB SITE WWW.SNAM.IT -- /sites/snam-rp

Snam uses cookies as part of this site to ensure an excellent browsing experience. This site also uses third-party cookies. The cookies used cannot identify the user. For more information about the cookies used and how to delete them, click here. By continuing to browse this site, you consent to the use of cookies.

ITEN

FAQ Bondholders

SNAM DEBT

  • What is the Snam credit rating?

    On 19 December 2016 Moody’s confirmed a Baa1 rating for Snam long-term debt (negative outlook), while Standard and Poor's on 29 November 2016 confirmed its rating to BBB (outlook stable). On 29 July 2016 also the Fitch agency has confirmed its credit rating: BBB+ with stable outlook.
  • Which is the amount of Snam’s bond issued?

    As a result of the Liability Management transaction completed in October (buyback for 2.75 billion euro and new issues for 1,75 billion euro) and of the new issuances executed in 2017, as of 24 August 2017 Snam’s outstanding bonds amounts to ca. 8.6 billion euro, of which ca. 8.6 billion euro issued under EMTN Program. Details of each bond issued are in the following table:

    Bond issue
    Maturity
    Amount euro
    Coupon
    19 July 2012
    18 January 2019
    582,523,000*
    5.000%
    17 September 2012
    19 March 2018
    851,357,000*
    3.875%
    17 September 2012
    19 September 2022
    740,713,000*
    5.250%
    13 November 2012
    13 February 2020
    715,939,000*
    3.500%
    10 April 2013 29 January 2021 331,941,000* 3.375%
    10 September 2013 10 September 2018 70,000,000 2.625%
    25 October 2013 25 October 2019 JPY 10,000,000,000 1.115%
    22 January 2014 22 January 2024 426,467,000* 3.250%
    24 April 2014 24 April 2019 265,309,000* 1.500%
    22 October 2014 21 April 2023 638,185,000* 1.500%
    19 November 2015 19 November 2023 592,152,000* 1,375%
    25 October 2016 25 October 2026 1,250,000,000 0,875%
    25 October 2016 25 October 2020 500,000,000 0,000%
    25 January 2017 25 January 2025 500.000.000 1,250%
    21 February 2017 21 February 2022 300.000.000 EUR3M + 0,60%
    20 March 2017** 20 March 2022** 400.000.000** 0,000%**
    2 August 2017 2 August 2024 350.000.000 EUR3M + 0,40%

     

    * After completions of bond buyback on 19 November 2015 (Liability Management 2015) and on 25 October 2016 (Liability Management 2016).

    ** Equity convertible bond

  • What is the amount of Snam debt?

    At 30 June 2017, Snam debt is euro 11,176 million.
  • What is the Snam debt structure?

    Financial liabilities at 30 June 2017 refer mainly to bond loans (€8,246 million, or 73.6%) and bank loans (€2,949 million, or 26.3%, including €1,171 million provided by the European Investment Bank - EIB).
     
    At 30 June 2017 the breakdown of debt by type of interest rate is: fixed rate 77% and floating rate 23%.
  • What is the average maturity of your debt?

    At 30 June 2017 the average maturity of the long term debt is around 5 years. Such maturity is consistent with Snam business profile and its regulatory context.

BONDHOLDERS' MEETING

  • Which are the rules applicable to the bondholders’ meeting?

    Pursuant to article 2415 of the Italian Civil Code, the rules governing the extraordinary meeting of the shareholders apply alto to the bondholders’ meeting and the resolutions of the bondholders’ meeting are registered in the Companies Register by the public notary who drafted the minute. More details are available in the Generic FAQ page.

Page Alert
updated
05 August 2016 - 16:45 CEST