The reopening of the fixed-rate bond issue launched by Snam (BBB rating for Standard & Poor's, Baa1 for Moody's), which was already in circulation with an April 2023 maturity, was successfully completed. The bond recorded demand equal to around 4 times the amount offered.
The bonds, which were issued with a re-offer price of 101,341 and an effective yield of 1,327%, down from initial indications, will be listed on the Luxembourg Stock Exchange. The placement was directed by a pool of banks made up of Barclays, BNP Paribas, ING, JP Morgan, Mediobanca and Mizuho.
Thanks to the transaction, the company active in the transport of gas has raised new financial resources for 250 million euros, in implementation of the EMTN (Euro Medium Term Notes) Plan approved by the Board of Directors last June.
