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Snam Capital/Financing Update 2021
4042_ip_2021-10-11_e26769c3-e2d4-4aa2-bee9-b11c45da6b62.pdf
Capital/Financing Update
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| Informazione Regolamentata n. 0542-70-2021 |
Data/Ora Ricezione 11 Ottobre 2021 16:19:21 |
MTA | ||
|---|---|---|---|---|
| Societa' | : | SNAM | ||
| Identificativo Informazione Regolamentata |
: | 152900 | ||
| Nome utilizzatore | : | SNAMN05 - Palladino | ||
| Tipologia | : | 2.2 | ||
| Data/Ora Ricezione | : | 11 Ottobre 2021 16:19:21 | ||
| Data/Ora Inizio Diffusione presunta |
: | 11 Ottobre 2021 16:19:23 | ||
| Oggetto | : | Snam board to renew EMTN financing programme. On Nov 29th 2021-2025 strategy plan presentation |
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| Testo del comunicato |
Vedi allegato.
Snam board to renew EMTN financing programme On Nov 29th 2021-2025 strategy plan presentation
- Through this programme – which may also incorporate appropriate sustainability indicators (KPIs) for the issuance of so-called sustainability-linked bonds - Snam can tap financial markets in a fast, flexible and cost-competitive manner
- Change in the corporate financial calendar: BoD on 2021–2025 strategy plan scheduled on November 29th
San Donato Milanese (Milan), October 11th, 2021 - The Board of Directors of Snam met today under the chairmanship of Nicola Bedin and resolved to renew for another year the Euro Medium Term Notes Programme (EMTN), launched in 2012, and increase its size to 12 billion euros from the prior threshold of 11 billion euros, in order to provide the company with additional flexibility during favourable market conditions.
As a consequence, the Board of Directors approved the issuance of one or more additional bonds through the EMTN Programme to be carried out by October 11th , 2022 for a nominal amount of up to 3.26 billion euros, to be increased by the amount corresponding to the bonds potentially reimbursed during the same period, and to be placed with institutional investors mainly operating in Europe. The total nominal amount of bonds outstanding shall not exceed, in any event, the maximum threshold of 12 billion euros.
The EMTN Programme represents an effective tool to raise significant resources from financial markets in a fast, flexible and cost-competitive manner, in line with the expected evolution of the company's financial structure. The bonds issued may be listed on one or more regulated markets.
Additionally, in light of recent developments in sustainable finance as well asthe company's increasing focus on the energy transition, the proceeds from bond issuances may be used, from time to time, for both general corporate purposes and to finance specific projects which may be aligned with the Taxonomy Delegated Acts issued by the European Commission (Taxonomy-aligned Use of Proceeds).
Finally, the renewed EMTN Programme may also incorporate appropriate sustainability indicators (KPIs) for the issuance of so-called sustainability-linked bonds.
To date, under its EMTN Programme, Snam has issued bonds for an aggregate nominal amount of approximately 8.7 billion euros.
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This press release is available at www.snam.it
snam press office T+ 39 02.37037273 [email protected]
A change to the previously communicated corporate financial calendar has been introduced with Snam announcing that the Board of Directors to approve 2021-2025 strategy plan will be held on November 29th instead of November 24th as initially disclosed. The strategy presentation and related press release are set on November 29th instead of November 25th as initially planned.