(Finance) – Terna launched un bond issue single tranche in Euro, at a fixed rate, in the form of a private placement, for a total of 100 million euros.
The issue took place as part of the Company’s Euro Medium Term Notes (EMTN) Program, the total amount of which is equal to Euro 9 billion, which has been assigned a rating of “BBB +” by Standard and Poor’s, “(P) Baa2 ”from Moody’s and“ A- ”from Scope.
Bonds have a duration of 5 years and expiring on September 22, 2027, will pay one annual coupon equal to 3.44%, will be issued at par, with a spread of 91 basis points with respect to the midswap. The settlement date of the issue
of the Notes is scheduled for 22 September 2022.
Proceeds from the issue are expected to be used by the Company a coverage of the needs of the Industrial Plan and to meet the Group’s ordinary financial needs, helping to optimize Terna’s financial management. For the Securities, an application for admission to listing on the regulated Luxembourg Stock Exchange will be submitted at the time of issue.