(Tiper Stock Exchange) – Aceaa multi-utility listed on Euronext Milan, has successfully concluded the reopening of the bond issue in Green format carried out on 17 January 2023 (interest rate 3.875%, maturity 24 January 2031) for an amount equal to 200 million euros (TAP Issue). The issue has received final bids equal to more than 1.5 times the amount offered.
The bonds, which have a minimum denomination of 100,000 euro and a rate of 3.875%, were placed at a issue price equal to 100.368% which implies a yield equal to 3.820% corresponding to a yield by 105 basis points above the midswap rate, allowing for a further improvement in the already very attractive terms of the original issue.
“The timely execution of the Tap Issue drew benefit from interest rate movements the previous day’s lower interest rates and the excellent secondary market levels of the original green bond,” the company said.
“We are very satisfied with the overall result achieved by the placement of the green bond, in fact the negotiation of the spread together with the level of midswap obtained made it possible to set a yield among the lowest achieved since the beginning of the year for similar transactions – said theCEO Fabrizio Palermo – The excellent result was also obtained thanks to constant monitoring of the market and effective management of the activities that preceded the launch of the operation”.
The settlement date has been set for 10 February 2023. The securities will be listed on the regulated market of the Luxembourg Stock Exchange. The placement operation was handled by Bank of America, Goldman Sachs, Intesa Sanpaolo, JP Morgan, UniCredit. It is expected that the agencies Fitch and Moody’s will give the TAP Issue a rating of BBB+ and Baa2 respectively.