(Finance) – Italgas ha The launch of a “dual-tranche” bond issue is successfully concluded at 5 and 9 years, both at a fixed rate and for an amount of 500 million euros each. The issue recorded, for both tranches, orders over 6 times the offer and was characterized by high quality and wide geographical diversification of investors.
The positive response of investors has made it possible to contain the cost below current market levels. The two tranches last 5 and 9 years with annual coupon equal to 2.875% and 3.500%, and spread by 78 and 118 basic points respectively compared to the reference rate (about 5bps lower than the fair value).
The proceeds of the operation will be intended for Cover of financial needs planned during the year.
The placement, aimed at institutional investors only, is organized and direct, as Joint bookrunners from JpMorgan, Quotes, Morgan Stanley, Société générale, Bank of America and Banca Akros. The bonds will be listed on the Luxembourg Stock Exchange