(Finance) – Terna has successfully placed asingle tranche bond issuein euros, at a fixed rate and for a total of 850 million euros. The issue achieved a maximum request exceeding 3 times the offer, and was characterized by high quality and broad geographical diversification of investors.
The launch of the bond was carried out as part of its Euro Medium Term Notes Program (EMTN), whose total amount is equal to 9 billion euros.
The bond has a duration of 7 years and expires on 17 January 2031, it will pay one annual coupon equal to 3.50% per year and will be issued at a price of 99.385%, with a spread of 100 basis points over the midswap.
The proceeds from the issue are expected to be used to meet theordinary needs financial and to cover the needs of Industrial Plan. An application for admission to listing on the regulated Luxembourg Stock Exchange will be submitted.
The operation was supported by a syndicate of banks, within which they acted, in their capacity joint-bookrunners: Akros Bank, BNP Paribas, Caixa Bank, Citigroup, Crédit Agricole, Intesa Sanpaolo, Morgan StanleySMBC, Unicredit.