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Snam Capital/Financing Update 2023
4042_rns_2023-10-11_e7503509-d1f3-4d4f-919a-8ebb159fcc86.pdf
Capital/Financing Update
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| Informazione Regolamentata n. 0542-56-2023 |
Data/Ora Inizio Diffusione 11 Ottobre 2023 18:51:06 |
Euronext Milan | |
|---|---|---|---|
| Societa' | : | SNAM | |
| Identificativo Informazione Regolamentata |
: | 182165 | |
| Nome utilizzatore | : | SNAMN02 - Pezzoli | |
| Tipologia | : | REGEM | |
| Data/Ora Ricezione | : | 11 Ottobre 2023 18:51:04 | |
| Data/Ora Inizio Diffusione |
: | 11 Ottobre 2023 18:51:06 | |
| Oggetto | : | CS rinnovo EMTN & ECP ENG | |
| Testo del comunicato |
Vedi allegato.
Snam: Board of Directors approves the renewal of EMTN and ECP programmes. ECP Programme increased by 1 billion euros for a maximum amount of 3.5 billion euros
San Donato Milanese (MI), 11 October 2023 - The Board of Directors of Snam met today under the chairmanship of Monica de Virgiliis and approved the annual renewal of the Euro Medium Term Notes Programme ("EMTN Programme"), launched in 2012, confirming its size of up to 13 billion euros.
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 2024, for a nominal amount of up to 4.1 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 13 billion euros.
The EMTN Programme represents an efficient instrument to raise financial resources in a fast, flexible and cost-competitive manner, into the capital markets and 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 line with the company strategy in supporting the energy transition, the proceeds from bond issuances may be used for both general corporate purposes, including bonds linked to sustainability target (so called Sustainability-Linked Bond), and to finance specific projects aligned with the Taxonomy Delegated Acts issued by the European Commission (Taxonomy-aligned Use of Proceeds), contributing to achieve the sustainable finance target.
To date, under its EMTN Programme, Snam has issued bonds for an aggregate nominal amount of approximately 8.9 billion euros
The Board of Directors also approved the renewal of the Euro Commercial Paper Programme ("ECP Programme"), launched in 2018, and the issuance of one or more Euro Commercial Paper notes through the ECP Programme for 3 years starting from the date hereof, up to a maximum amount of 3.5 billion euros, to be placed with institutional investors according to the terms and conditions provided for by the ECP Programme.
This press release is available at www.snam.it
snam press office T+ 39 02.37037273 [email protected]
At September 30th 2023, Snam had approximately 2.3 billion euros of commercial paper outstanding under the ECP Programme.
The new 3.5 billion euros ECP Programme, increased by 1 billion euros, will enable Snam to furtherly diversify its short-term financing instruments towards more flexibility. An ESG rating will be associated to the ECP Program, thus representing one of the sustainable finance instruments supporting the company sustainable funding strategy.