Snam — Capital/Financing Update 2021

Jun 24, 2021

Informazione Regolamentata n. 0542-55-2021		Data/Ora Ricezione 24 Giugno 2021 17:28:50	MTA
Societa'	:	SNAM SPA
Identificativo Informazione Regolamentata	:	149143
Nome utilizzatore	:	SNAMN04 - Palladino
Tipologia	:	2.2
Data/Ora Ricezione	:	24 Giugno 2021 17:28:50
Data/Ora Inizio Diffusione presunta	:	24 Giugno 2021 17:28:51
Oggetto	:	Snam: successfully launched its fourth Transition Bond for 500 million euros and 0.625% coupon
Testo del comunicato

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NOT TO BE PUBLISHED OR DISTRIBUTED IN THE UNITED STATES, CANADA AND JAPAN

Snam: successfully launched its fourth Transition Bond for 500 million euros and 0.625% coupon

The demand was at peak more than 2.5 times the offer

San Donato Milanese (Milan), 24th June 2021 – Snam S.p.A. (rated Baa2 by Moody's, BBB+ by S&P and BBB+ by Fitch) successfully launched its fourth Transition Bond today whose proceeds will be used to finance projects in the energy transition, known as the Eligible Projects, as outlined in Snam's Transition Bond Framework published in June.

The issuance, which was reserved to institutional investors, reached a demand at peak of over 2.5 timesthe offered amount, by high quality and geographically diversified institutional investors.

Features of the Transition Bond are as follows:

Amount: 500 million euros

Maturity: 30th June 2031

Annual coupon of 0.625%. The reoffer price is 98.724% (equivalent to a spread of 65 bps over the reference mid swap rate).

Today's transaction is in line with Snam's commitment towards sustainable finance as a key pillar of its strategy which includes the goal of carbon neutrality by 2040 and the further development of its energy transition businesses.

Snam considers Transition Bonds as crucial instruments in increasing the contribution from sustainable finance to its strategy whereby increasing available funding to over 60% by 2024 from approximately 40% at the end of 2020, as set out in the company's strategic plan. As of today, Snam has successfully raised 2,850 million euros through the issuance of a Climate Action Bond in February 2019 and the Transition Bonds issued under the current Framework.

Details on the Transition Bond Framework are 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 euros EMTN (Euro Medium Term Note) programme approved by the Board of Directors on 12nd October 2020 and will be listed on the Luxembourg Stock Exchange.

snam press office T+ 39 02.37037273 ufficio.stampa@snam.it

Bookrunners of the placement are Barclays, BNPP, CACIB, Goldman Sachs International, IMI-Intesa Sanpaolo, ING, J.P. Morgan, MUFG, SMBC Nikko and UniCredit.

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.