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Snam's Transition bond listed on ExtraMOT PRO of Borsa Italiana

  • Snam's €600 million Transition bond listed on ExtraMOT PRO of the Italian Stock Exchange
  • This is the third instrument issued by Snam listed on the green and/or social segment of the Italian Stock Exchange
  • The proceeds from the issue will be used by Snam to finance projects in the energy transition
 

Borsa Italiana today welcomes the second Transition bond of Snam, one of the world's leading energy infrastructure companies, to ExtraMOT PRO. The Transition bond is the third instrument issued by Snam listed on the green and/or social segment of the Italian Stock Exchange.

The bond, issued on 30 November, has an equivalent value of 600 million euros, it pays interest equal to 0,034% and expires on 7/12/2028.

The proceeds from Snam's Transition bond will be used to finance projects in the energy transition, the so-called Eligible Projects, as defined in the Transition Bond Framework published by the company last June.

With Snam's Transition bond, the list of securities for sustainable development on the bond markets of Borsa Italiana reaches the number of 156 listed instruments since the birth of the segment.

Pietro Poletto, Global Head of Fixed Income Products and Co-Head of Equity, Funds & Fixed Income of Borsa Italiana, Secondary Markets, commented:

"With this bond, Snam strengthens its commitment to sustainable finance and Borsa Italiana renews its commitment to promoting and developing a bond market characterized by an increasingly sustainable financial culture. The segment dedicated to the green and/or social bonds of Borsa Italiana's bond markets offers institutional and retail investors the opportunity to identify the instruments whose proceeds are destined to finance projects with specific benefits or environmental and/or social impacts."

Alessandra Pasini, CFO and Chief International & Business Development Officer of Snam, said:

"Our second Transition bond, which today lands also on the Italian market, confirms Snam's commitment to sustainable finance, which by the end of the 2020-2024 plan will represent 60% of the available funding compared to the current 40%. The longest zero coupon issued by a European corporate amongst peers with equivalent rating, was particularly appreciated by ESG investors, who accounted for about 80% of orders."

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21 December 2020 - 12:01 CET