Snam issues a private placement with maturity September 2023 for € 300 million
NOT TO BE PUBLISHED OR DISTRIBUTED IN THE UNITED STATES, CANADA AND JAPAN
San Donato Milanese (Milan), 27 November 2018 – Today Snam S.p.A. (rated Baa2 by Moody’s, BBB+ by S&P and BBB+ by Fitch) issued a private placement with a primary institutional investor for an amount of 300 million euro as a reopening (bond tap) of the existing fixed rate issuance with maturity September 2023.
Details are as follows:
Incremental amount: 300 million euro
Maturity: 18 September 2023
Annual coupon of 1.00%. The re-offer price is 98.792 (equivalent to a spread of 99 basis points over the interpolated mid-swap rate).
Today’s issue is consistent with the optimization process of Snam’s debt structure and cost of capital, in line with the Company’s targets.
The notes, issued under Snam’s 10 billion Euro Medium Term Notes Programme (EMTN) which was approved by the Board of Directors on 2 October 2018, will be listed on the Luxembourg Stock Exchange.
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in the United States, Canada and Japan and in any jurisdiction in which such offer or sale would be unlawful and is not for publication or distribution in any such jurisdictions.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 1, para. 1, letter. t) of Legislative Decree no. 58 of February 24, 1998. The documentation relating to the offer has not been/will not be submitted to the approval of CONSOB.
27 November 2018 - 17:25 CET