Strong response with orders from investors for € 2.2bn, which implies an oversubscription ratio of around 4x
Milan, 27th January 2023 - A2A (Moody’s Baa2/negative - Standard & Poors BBB/negative) successfully launched a new Green Bond with a size of € 500 mln and maturity 11 years.
The new transaction was welcomed by a strong investor response: indeed, the total order book amounted to € 2.2bn, resulting in an oversubscription ratio of almost 4x. The new Green Bond, which is addressed to institutional investors only and has been issued under A2A’s Euro Medium Term Notes Programme, is based on the issuer’s Sustainable Finance Framework.
The notes have been issued at a reoffer price and yield of 98.824% and 4.513% respectively. The coupon has been set at 4.375% whilst the final spread over the reference mid swap rate is equal to 167bps.
“Through this issuance A2A will finance projects related to energy transition and circular economy included in our Strategic Plan which are eligible to the European Taxonomy" - commented Luca Moroni, CFO of A2A - “The transaction further demonstrates A2A's commitment to sustainable finance and guides us to the achievement of a sustainable debt target at 90 percent by 2030”.
The net proceeds from the issuance will be used to finance and/or refinance strategic projects in the fields of circular economy and energy transition: the so-called Eligible Green Projects mainly related to renewable energy, transmission and distribution networks, energy efficiency, and pollution prevention and control, as defined in A2A’s Sustainable Finance Framework. A2A selected those projects which are eligible to the EU Taxonomy - the EU regulation that lists economic activities that can be considered sustainable.
In addition, A2A commits to disclose, as part of its allocation report, prepared in accordance with the Sustainable Finance Framework, also the actual amount of investments aligned to the EU Taxonomy that have been financed through this Green Bond.
The notes are subject to the English Law and will be listed on the Luxembourg Stock Exchange from the 3rd of February 2023 once all the relevant documentation will be signed.
Citigroup and Crédit Agricole CIB acted as Global Coordinators whilst BBVA, BofA Securities, BNP Paribas, Citigroup, Crédit Agricole CIB, Goldman Sachs International, Intesa Sanpaolo (Divisione IMI CIB), Mediobanca, Santander, Société Générale and UniCredit acted as Joint Bookrunners.
A2A is assisted by the legal counsel Simmons & Simmons whilst the Joint Bookrunners by Allen & Overy.
Contacts:
Giuseppe Mariano
Media Relations, Social Networking and Web Responsabile
Silvia Merlo – Silvia Onni
Ufficio stampa
ufficiostampa@a2a.eu
Tel. [+39] 02 7720.4583
A2A – Investor Relations
ir@a2a.eu
Tel. [+39] 02 7720.3974
- Società
