Snam Spa (Baa2 rating for Moody's, BBB+ for S&P and BBB+ for Fitch) successfully concluded the bond issue at a variable rate of a bond, for an amount of 750 million euro, duration 2 years and coupon equal to 3-month Euribor plus 0,40%. The operation is part of the company's financial strategy aimed at optimizing the cost of debt, expected to average 2,6% over the period of the Plan.
“We are delighted with the success of the operation, which has seen exceptional demand in the market. This result reflects the constant search for opportunities to optimize the cost of our debt and diversify the investor base. – comments Snam's Finance Director, Nicole Della Vedova. – We will continue to pursue the financial strategy with determination, ensuring the creation of value for all stakeholders, in line with the Strategic Plan presented to the financial community last January".
The bonds were issued as part of Snam's 13 billion euro Emtn (Euro medium term note) Program whose renewal was lastly approved by the Board of Directors on 11 October 2023 and will be listed on the Stock Exchange. Luxembourg.
The placement was organized and managed, as Joint Bookrunners, by Banca Akros, Bnp Paribas, Crédit Agricole, IMI-Intesa Sanpaolo, UniCredit.
