Snam launches an equity-linked bond loan for a nominal amount of 400 million euro. The bonds will have a duration of five years and a minimum unit nominal value of at least Euro 100.000,00
The bonds, specifies a note, will not accrue interest and will be issued at an issue price between 100,00% and 102,50% of their nominal value, corresponding to a gross annual yield at maturity between -0,49, 0,00% and XNUMX%
The initial conversion price of the bonds is expected to be set at a premium of between 26,0% and 32,0% above the volume weighted average price of the company's common stock, as resulting from the Borsa Italiana list between the launch of the offer and the determination of the price of the bonds.
The Bonds may be converted into Shares, subject to approval by the ordinary shareholders' meeting already convened in ordinary session on 11 April 2017 in order to authorize, among other things, the disposal of the Shares.
