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Snam — Capital/Financing Update 2017
Jan 18, 2017
4042_rns_2017-01-18_04e5f71d-fc44-453c-87eb-efae8ab9f5a5.pdf
Capital/Financing Update
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| Informazione Regolamentata n. 0542-6-2017 |
Data/Ora Ricezione 18 Gennaio 2017 19:13:11 |
MTA | ||
|---|---|---|---|---|
| Societa' | : | SNAM | ||
| Identificativo Informazione Regolamentata |
: | 84061 | ||
| Nome utilizzatore | : | SNAM01 - Palladino | ||
| Tipologia | : | IROS 06 | ||
| Data/Ora Ricezione | : | 18 Gennaio 2017 19:13:11 | ||
| Data/Ora Inizio Diffusione presunta |
: | 18 Gennaio 2017 19:28:12 | ||
| Oggetto | : | Snam: 8 years fixed rate note issue successfully launched for a total amount of 500 million euro, reserved for institutional investors |
||
| Testo del comunicato |
Vedi allegato.
NOT TO BE PUBLISHED OR DISTRIBUTED IN THE UNITED STATES, CANADA AND JAPAN
Snam: 8 years fixed rate note issue successfully launched for a total amount of 500 million euro, reserved for institutional investors
San Donato Milanese, 18 January 2017 – Today Snam S.p.A. (rated Baa1 by Moody's, BBB by S&P and BBB+ by Fitch) successfully launched a fixed rate note issue, maturity January 2025, for an amount of 500 million euro under its EMTN Programme (Euro Medium Term Notes) which was approved by the Board of Directors on 27 September 2016.
The transaction was approximately 2 times oversubscribed by high quality and geographically diversified institutional investors.
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 will be listed on the Luxembourg Stock Exchange.
Joint Bookrunners of the placement, which is reserved for institutional investors, were Banca IMI, Barclays, BofA Merrill Lynch, Citi, J.P. Morgan and UniCredit.
Features of the new notes are as follows:
Amount: 500 million euro Maturity: 25 January 2025 Annual coupon of 1.25%. The re-offer price is 99.487 (equivalent to a spread of 85 basis points over the reference mid-swap rate).
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, 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 1, para. 1, letter. t) of Legislative Decree no. 58 of February 24, 1998. The documentation relating to the offer has not been/will not be submitted to the approval of CONSOB.
Snam Investor Relations T +39 02 37037272 F +39 02 37037803 [email protected]