Snam (rating Baa1 for Moody's, BBB for S&P and BBB+ for Fitch) has launched a variable rate bond issue, in the form of a private placement, for an amount of 300 million euro, with a duration of 5 years and a variable coupon equal to Euribor 3 months plus 0,60%.
With this issue, Snam continues along the path of optimizing the debt structure and continuously improving the cost of capital, in line with its objectives. The bonds, issued as part of Snam's 10 billion euro Euro Medium Term Notes (EMTN) program approved by the Board of Directors on 27 September 2016, will be listed on the Luxembourg Stock Exchange.
