Milano, 21 October 2020 - A2A has successfully launched the issue of a twelve-years bond for a total amount of 500 million euro, exclusively targeted at institutional investors, under its Euro Medium Term Notes Program, last updated on 28 July 2020 (supplemented by a supplement of 20 October 2020).
The notes were placed at an issue price equal to 99,471% and have an annual yield of 0,671%, an annual coupon of 0,625%, with a spread of 85 basis points over the reference mid-swap rate.
This transaction marks the lowest ever coupon for an Italian corporate issuance of more than 10 years
The bonds are governed by English law and will be prompted for the admission to trade on the Luxembourg Stock Exchange starting October 28, 2020, the expected date of settlement of the bond issue, subject to the signing of the relevant documentation and to the fulfilment of the suspensive conditions provided for therein.
The new notes will be assigned a rating by Moody's and Standard & Poor's.
The issue is in line with the financial strategy aimed at maximizing the efficiency in terms of increasing the average duration of the Group’s debt, reducing the average cost of debt and optimising the debt redemption profile, with a proactive funding management aimed at seizing all the opportunities offered by the capital market.
The placement of the notes is managed by Goldman Sachs International.
A2A was assisted by the law firm Legance - Avvocati Associati.