Snam board to renew EMTN financing programme

Snam board to renew EMTN financing programme

San Donato Milanese (Milan), October 12th, 2022 - The Board of Directors of Snam met today under the chairmanship of Monica de Virgiliis and resolved to renew for another year the Euro Medium Term Notes Programme (EMTN), launched in 2012, and increase its size to up to 13 billion euros from the prior threshold of 12 billion euros, in order to provide the company with additional flexibility.

As a consequence, the Board of Directors approved the issuance of one or more additional bonds through the EMTN
Programme to be carried out by October 12 th, 2023 for a nominal amount of up to 3.84 billion euros, to be increased by the amount corresponding to the bonds potentially reimbursed during the same period, and to be placed with institutional investors mainly operating in Europe. The total nominal amount of bonds outstanding shall not exceed, in any event, the maximum threshold of 13 billion euros.

The EMTN Programme represents an effective tool to raise significant resources from financial markets in a fast, flexible and cost-competitive manner, in line with the expected evolution of the company's financial structure. The bonds issued may be listed on one or more regulated markets.

Additionally, in light of recent developments in sustainable finance as well as the company's increasing focus on the energy transition, the proceeds from bond issuances may be used, from time to time, for both general corporate purposes, including bonds linked to sustainability target "Sustainability- Linked Bond", and to finance specific projects aligned with the Taxonomy Delegated Acts issued by the European Commission (Taxonomy-aligned Use of Proceeds).

To date, under its EMTN Programme, Snam has issued bonds for an aggregate nominal amount of approximately 9.2 billion euros.

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12 October 2022 - 18:49 CEST