Snam's Board of Directors has chosen to renew the Emtn (Euro medium term note) program for a total maximum of 12 billion euro, as well as the issue, by 30 June 2015, of one or more additional bonds for an amount maximum of 2 billion.
These will be securities to be placed with institutional investors operating mainly in Europe. The Emtn programme, specifies a note, "represents an effective tool for finding significant financial resources on the market in a rapid, flexible and competitive cost manner, in line with the expected evolution of the target financial structure" of Snam.
The bonds may be listed on one or more regulated markets. As part of the Emtn programme, to date bonds have been issued for approximately 9,95 billion.
Opening today in Piazza Affari, the Snam stock travels around parity.
