Snam issues a private placement with maturity May 2024 for € 200 million

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San Donato Milanese (MI), 2 December 2019 – Snam (rated Baa2 by Moody’s, BBB+ by S&P and BBB+ by Fitch) issued today a private placement with a primary institutional investor for an amount of €200 million as a reopening (bond tap) of the existing fixed rate issuance with maturity May 2024.

Details are as follows:
Incremental amount: €200 million
Maturity: 12 May 2024
Annual coupon of 0%. The re-offer price is 98.784 (equivalent to a spread of 49 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 €11 billion Euro Medium Term Notes (EMTN) Programme which was approved by the Board of Directors on 2 October 2019, 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in the United States, Canada and Japan and in any jurisdiction in which such offer or sale would be unlawful and is not for publication or distribution in any such jurisdictions.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 2, letter (d) of Regulation (EU) 2017/1129. The documentation relating to the offer has not been/will not be submitted to the approval of CONSOB.

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02 December 2019 - 16:56 CET