Snam — Capital/Financing Update 2021

Feb 8, 2021

Informazione Regolamentata n. 0542-8-2021		Data/Ora Ricezione 08 Febbraio 2021 18:44:04	MTA
Societa'	:	SNAM SPA
Identificativo Informazione Regolamentata	:	142300
Nome utilizzatore	:	SNAMN05 - Palladino
Tipologia	:	2.2
Data/Ora Ricezione	:	08 Febbraio 2021 18:44:04
Data/Ora Inizio Diffusione presunta	:	08 Febbraio 2021 18:44:05
Oggetto	:	Snam: successfully launched a dual tranche Transition bond for 750 million euros
Testo del comunicato

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NOT TO BE PUBLISHED OR DISTRIBUTED IN THE UNITED STATES, CANADA AND JAPAN

Snam: successfully launched a dual-tranche Transition bond for 750 million euros

San Donato Milanese (Milan), 8 February 2021 – Snam S.p.A. (rated Baa2 by Moody's, BBB+ by S&P and BBB+ by Fitch) successfully launched today its third Transition bond in less than one year for 500 million euros and a reopening (bond tap) for 250 milion euros of the existing fixed rate 500 million euros Transition bond with maturity June 2030.

The proceeds of both the issuances will be used to finance Eligible Projects, as defined in Snam's Transition Bond Framework published on 9 June 2020.

This issuance combined on both tranches, which was reserved to institutional investors, was more than three times oversubscribed by high quality and a geographically diversified set of institutional investors.

Features of the transactions are as follow:

Amount: 500 million euros Maturity: 15 August 2025 Annual coupon of 0%, reoffer price 100.198% (equivalent to a spread of 37bps over the reference mid swap rate)

Amount: 250 million euros Maturity: 17 June 2030 (bond tap) Annual coupon of 0.75%, reoffer price 103.545% (equivalent to a spread of 50bps over the reference mid swap rate)

Today's transactions confirm Snam's commitment to 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 a crucial instrument enabling its sustainable finance strategy increase from current approximately 40% to over 60% of the available funding by 2024, as set out in the strategic plan.

This press release is available at www.snam.it

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

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).

These notes are issued under Snam's 11 billion euros EMTN (Euro Medium Term Note) programme which was approved by the Board of Directors on 12 October 2020, and they will be listed on the Luxembourg Stock Exchange.

Bookrunners of the placement are Banca IMI, BBVA, Barclays, BofA Merrill Lynch, Citi, Goldman Sachs, JP Morgan, Mediobanca – Banca di Credito Finanziario S.p.A, Mizuho, Morgan Stanley and Société Générale.

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.