Snam’s Board of Directors approves the renewal of the EMTN Programme and the issuance of bonds
San Donato Milanese (Milan), 6 October 2017 - Snam’s Board of Directors, which met today under the chairmanship of Carlo Malacarne, resolved to renew the annual EMTN Programme, launched in 2012, for a maximum total amount confirmed at 10 billion euro.
The Board of Directors consequently decided the issue by 6 October 2018, through the Programme, of one or more additional bonds, for a maximum amount of approximately 1.8 billion euro, increased by the amount corresponding to the bonds redeemed during the same period and to be placed with institutional investors. The total nominal value of the bonds issued may not in any case exceed the maximum limit of 10 billion euro. To date, bonds for approximately 8.2 billion euro have been issued under the EMTN Programme.
The EMTN Programme represents an effective tool to raise significant financial resources from the market in a fast and flexible way at competitive costs, in line with the expected evolution of the Company’s target financial structure. The bonds issued may be listed on one or more regulated markets.
06 October 2017 - 11:16 CEST