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Snam Capital/Financing Update 2020
4042_rns_2020-11-30_345c0d78-b6bb-44f8-9cc9-3af0cf963ef3.pdf
Capital/Financing Update
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| Informazione Regolamentata n. 0542-99-2020 |
Data/Ora Ricezione 30 Novembre 2020 18:00:30 |
MTA | ||
|---|---|---|---|---|
| Societa' | : | SNAM SPA | ||
| Identificativo Informazione Regolamentata |
: | 139880 | ||
| Nome utilizzatore | : | SNAMN05 - Palladino | ||
| Tipologia | : | 2.1 | ||
| Data/Ora Ricezione | : | 30 Novembre 2020 18:00:30 | ||
| Data/Ora Inizio Diffusione presunta |
: | 30 Novembre 2020 18:00:31 | ||
| Oggetto | : | Snam: successfully issues second Transition Bond for €600 million |
||
| Testo del comunicato |
Vedi allegato.
NOT TO BE PUBLISHED OR DISTRIBUTED IN THE UNITED STATES, CANADA AND JAPAN
Snam: successfully issues second Transition Bond for €600 million
It is the longest with zero coupon issued to date by an Italian corporate
San Donato Milanese (MI), 30 November 2020 – Snam S.p.A. (rated Baa2 by Moody's, BBB+ by S&P and BBB+ by Fitch) successfully issued today its second Transition Bond for a total amount of 600 million euro. The proceeds will be used to finance projects in the energy transition, known as the Eligible Projects, as defined in Snam's Transition Bond Framework published in June.
The issuance, which wasreserved to institutional investors, reached a demand at peak of more than 2.6 billion euro, with high quality and geographically diversified investors, making it the longest 0% coupon bond issued by an Italian issuer so far.
The features of the Transition Bond are the following:
Amount: €600 million
Maturity: 7 th December 2028
Annual coupon of 0% with a reoffer price of 99.728% (equivalent to a spread of 38 bps over the reference mid swap rate).
Marco Alverà, Snam's CEO, commented: "The success of our second Transition Bond, the longest 'zero coupon' ever issued by an Italian corporate, testifies to the market's confidence in our initiatives for the energy transition, which will play a key role in our 2002-2024 plan. With this emission, we further strengthen our commitment to sustainable finance, which is a pillar of Snam's ESG strategy to support activities aimed at enabling the decarbonisation of the system, including hydrogen, biomethane, energy efficiency and sustainable mobility."
This is Snam's second Transition Bond after the one issued on June 10th, confirming the company's commitment to sustainable finance in support of the increasing initiatives in the energy transition. As part of the 2020-2024 plan, presented on November 25th, Snam announced its ambition to increase the percentage of sustainable finance from the current 40% to over 60% of the available funding.
Through this issuance, Snam intends to consolidate its role in the energy transition, further aligning its financial structure with the long-term corporate strategy while at the same time diversifying its investor base.
This press release is available at www.snam.it
snam press office T+ 39 02.37037273 [email protected]
The Transition Bond Framework is publicly available on the company website (https://www.snam.it/en/Investor_Relations/debt_credit_rating/transition_bond.html).
The notes are issued under Snam's €11 billion EMTN (Euro Medium Term Note) programme which was approved by the Board of Directors on October 12th , 2020 and will be listed on the
Luxembourg Stock Exchange.
Bookrunners of the placement are BNP Paribas, Crédit Agricole CIB, ING, Intesa Sanpaolo, Mizuho, Mediobanca – Banca di Credito Finanziario S.p.A, MUFG, Société Générale, SMBC Nikko Capital Markets Europe GmbH and UniCredit Bank AG.
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 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.