(Finance) – Snam brings to the MOT Professional segment of the Italian Stock Exchange a “dual tranche bond issue in euros and pounds, equivalent to 1.5 billion euros, with a average life of the operation 9.4 years and an average cost of 3.7%“. The CFO of Snam told Finance, Luca Passaon the sidelines of the listing ceremony at Palazzo Mezzanotte.
“THE’successful operation it received demand for 3 and a half times what was offered for the issue, and for us it was the debut on the sterling market, which allows us to diversify the company’s financing sources”, explained Passa.
“It’s an operation that we define sustainability-linked – said the CFO – with both tranches being linked to the reduction of Scope 1, 2 and 3 missions; the sterling tranche also has Scope 3, which is a bit of a novelty on the market. These are the emission reduction targets that the company has and which were recently reconfirmed in the presentation of the October transition plan to the market.”
“We are obviously listed with our shares here on the Italian Stock Exchange – continued Passa – but we can also list our institutional bonds in primary listing on the MOT we are very pleased also because the company still has a net debt which is equal to 15.9 billion today and will be growing, and therefore being able to also list the debt on the Italian Stock Exchange – and therefore at home – is certainly an advantage for us something particular“.