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Snam: a fixed rate bond issue successfully launched for a total amount of 600 million euro, reserved for institutional investors

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NOT TO BE PUBLISHED OR DISTRIBUTED IN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN

 

San Donato Milanese, 14 January 2014 – TodaySnam SpA (S&P rating BBB+, Moody’s Baa1) successfully launched a fixed rate bond issue with tenor of 10 years  for an amount of 600 million euro as part of its EMTN Programme (Euro Medium Term Notes) approved by the Board of Directors on June 11 th, 2013.

 

The transaction attracted orders for more than 1.5 billion euro, with high quality and  wide geographical diversification of investors

 

Today’s issue, which has been launched in a favourable market condition, is a further step in the optimization process of Snam’s debt structure and cost of capital, in line with the Company’s targets.

 

The bonds will be listed on the Luxembourg Stock Exchange.

 

Bookrunners and Joint Lead Managers of the placement, which is reserved for institutional investors, were Banca IMI, Goldman Sachs, HSBC, JP Morgan, Mediobanca and Morgan Stanley.

 

Details are as follows:

 

Amount: euro 600 million

Maturity: 22 January, 2024

Annual coupon of 3.25%. The re-offer price is 99.02 (equivalent to a spread of 128 basis points over the reference mid-swap rate).

  

DISCLAIMER

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does not constitute an offer of securities for sale in the United States, in Australia, Canada or Japan and is not for publication or distribution in any such jurisdictions.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 1, para. 1, letter. t) of Legislative Decree no. 58 of February 24, 1998. The documentation relating to the offer will not be submitted to the approval of CONSOB.

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05 August 2016 - 16:19 CEST