Italgas

Capital/Financing Update • Feb 27, 2025

Informazione Regolamentata n. 0167-35-2025	Data/Ora Inizio Diffusione 27 Febbraio 2025 19:52:26		Euronext Milan
Societa'	:	ITALGAS
Identificativo Informazione Regolamentata	:	201827
Utenza - Referente	:	ITALGASN01 - Scaglia Anna Maria
Tipologia	:	3.1
Data/Ora Ricezione	:	27 Febbraio 2025 19:52:26
Data/Ora Inizio Diffusione	:	27 Febbraio 2025 19:52:26
Oggetto	:	Italgas: high demand for the "dual tranche" fixed-rate bond with 5 and 9-year maturities totaling 1 billion euros
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Press Release

Italgas: high demand for the "dual tranche" fixed-rate bond with 5 and 9-year maturities totaling 1 billion euros.

Milan, February 27, 2025 – Italgas S.p.A. (rated BBB+ by Fitch, Baa2 by Moody's) successfully priced today a new dual-tranche bond issue with maturities of 5 and 9 years, both at fixed rate and for an amount of 500 million euros each. The transaction recorded orders exceeding 6 times the amount offered for both tranches and was characterized by a high quality and broad geographically diversified investor base. The extremely positive response from investors allowed therefore to achieve a cost lower than current market levels.

The two tranches have maturities of 5 and 9 years with an annual coupon of 2.875% and 3.500%, and spreads of 78 and 118 basis points over the reference rate, respectively (about 5bps below the fair value).

The issue was executed under Italgas' EMTN Programme (Euro Medium Term Notes), renewed by resolution of the Board of Directors on October 24th, 2024, for a total nominal amount of 10 billion euros.

The proceeds will be used to cover the financial needs expected during the year.

The placement, exclusively targeted to institutional investors, is organized and led, as Joint Bookrunners, by J.P. Morgan, Citi, Morgan Stanley, Société Générale, Bank of America, and Banca Akros.

The bond will be listed on the Luxembourg Stock Exchange.

Details of the two tranches are as follows:

Amount: 500 million euros Maturity: March 6th, 2030 Annual coupon: 2.875%. Re-offer price: 99.446 (equivalent to a spread of 78 basis points over the reference Mid-Swap rate).

Amount: 500 million euros Maturity: March 6th, 2034 Annual coupon: 3.500%. Re-offer price: 99.977 (equivalent to a spread of 118 basis points over the reference Mid-Swap rate).

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

Investor Relations Italgas +39 02 8187 2012 investor.relations@italgas.it

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