Italgas — Capital/Financing Update 2021

Feb 15, 2021

Informazione Regolamentata n. 0167-10-2021		Data/Ora Ricezione 15 Febbraio 2021 14:55:01	MTA
Societa'	:	ITALGAS
Identificativo Informazione Regolamentata	:	142518
Nome utilizzatore	:	ITALGASN01 - Scaglia
Tipologia	:	3.1
Data/Ora Ricezione	:	15 Febbraio 2021 14:55:01
Data/Ora Inizio Diffusione presunta	:	15 Febbraio 2021 14:55:02
Oggetto	:	Results of the Tender Offer launched by Italgas on its 2022 and 2024 Notes
Testo del comunicato

Vedi allegato.

NOT TO BE PUBLISHED OR DISTRIBUTED IN THE UNITED STATES, AUSTRALIA, CANADA AND JAPAN

Results of the Tender Offer launched by Italgas on its 2022 and 2024 Notes, purchased for a total nominal amount of about €256 million

Milan, 15 February 2021 – The Tender Offers launched by Italgas S.p.A. (rating BBB+ by Fitch, Baa2 by Moody's) terminated with very positive outcome, having registered a percentage of attendance higher than 58% of the outstanding Notes due January 2022. Including also the Notes due March 2024, the overall repurchase amounts to nominal €255,672,000.

The transaction, which is the second Liability Management exercise carried out by Italgas, has been announced last 5 February together with the dual-tranche bond issue with size of 500 million euros each, due February 2028 and February 2033 respectively. Thanks to the combined effect of these transactions, the Company managed to further reduce its refinancing risk while extending the average duration of its bond portfolio.

Based on the terms and conditions defined in the Tender Offer Memorandum dated 5 February 2021, below are the detailed results of the Tender Offers:

• €750,000,000 0.500 per cent. Notes due 19 January 2022, whose outstanding amount is equal to nominal €268,360,000 (XS1551917245): purchased for a total nominal amount of €156,053,000. Upon completion of the transaction, the notes still outstanding will be in nominal amount equal to €112,307,000;
• €650,000,000 1.125 per cent. Notes due 14 March 2024, whose outstanding amount is equal to nominal €480,945,000 (XS1578294081): purchased for a total nominal amount of €99,619,000. Upon completion of the transaction, the notes still outstanding will be in nominal amount equal to €381,326,000.

The results of the Tender Offers will be made available on the website of the Luxembourg Stock Exchange at www.bourse.lu.

Pursuant to the terms and conditions defined in the Tender Offer Memorandum, Italgas will settle for cash the amount due for the repurchased Notes tomorrow, 16 February 2021.

DISCLAIMER

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, in Australia, 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.

This press release is available at the following address www.italgas.it

Investor Relations Italgas +39 02 8187 2175 investor.relations@italgas.it

Italgas Press Office +39 02 8187 2020 ufficio.stampa@italgas.it