Hera he placed on Thursday a 500 million euro ten-year bond. The bond issue, reserved for qualified investors, recorded orders equal to four times the offer. The price stood at 60 basis points above the Mid Swap rate, for one coupon equal to 0,25%, "which represents the lowest value for an Italian corporate bond of the same duration", specifies the group in a note.
The placement is part of the Euro Medium Term Notes programme, which was updated on 24 November with the increase to 3,5 billion euro of the maximum ceiling in terms of principal of debenture loans that can be outstanding. The bonds will be listed on the regulated market of the Irish Stock Exchange (Euronext Dublin) with a yield of 0,348%. The settlement date of the issue is scheduled for December 3, 2020.
Il rating expected on new securities is in line with that of the Hera Group: Baa2 with stable outlook for Moody's and BBB positive for Standard & Poor's.
“The new issue will serve to finance the Hera group's investments in projects in the environment, water and energy sectors, for the implementation of innovative interventions in line with the attention to sustainability that has always characterized the activities of the multiutility”, concludes the note.
Friday, mid-morning, Hera stock on the Stock Exchange it gains 2%, to 3,15 euros, outperforming the Ftse Mib, which in the same minutes travels in positive territory by about half a percentage point.
