Milan, December 9, 2013 - Today, A2A has successfully placed on the European market a 500 million Euro bond due on January 13, 2022, under its 3 billion Euro Medium Term Notes Programme updated and increased on November 25, 2013. The issue was exclusively targeted to institutional investors.
The Senior bond issue recorded orders corresponding to 3.6 times oversubscription. The notes – with a minimum denomination of 100 thousand Euro – have a 3.625% annual coupon rate, and reoffer price of 99.561%. The re-offer yield is 3.688%, corresponding to 190 basis points over the underlying interest rate swap.
The issue – whose proceeds will be used for debt repayment – will allow to reduce the average interest rate on the Group’s debt and, in line with its financial strategy, extend the average maturity of the Company’s debt and optimizing the maturity schedule.
The notes are governed by English law. The settlement date is December 13, 2013, and following that date the notes will be traded on the Luxembourg Stock Exchange.
The placement of the notes was managed by Banca IMI, Credit Agricole, Mediobanca, and UniCredit, as Joint Bookrunners.
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