Snam also gets on the train of new bonds. This morning, the gas company launched a new fixed-rate bond issue, maturing in October 2027, for an amount of 500 million euros. The bonds will be listed on the Luxembourg Stock Exchange. Initial price indications are 70-75 points above the mid swap rate. The placement is aimed at institutional investors and is part of the new plan for medium-term issues in euro launched by the Board of Directors on 6 October.
The placement is aimed at institutional investors and is organized and managed, as Bookrunners and Joint Lead Managers, by Barclays, BNP Paribas, BofA Merrill Lynch, ING, Mizuho, Mediobanca, MUFG and Société Générale.
Also today, Bnp Paribas launched a purchase offer on several bonds already issued by Snam with maturities between 2019 and 2024.
The new bond may be used, in whole or in part, for an exchange with the bonds purchased by BNP. The operation, specifies a press release from the group, allows Snam to continue along the path of optimizing the debt structure and continuously improving the cost of capital, in line with its objectives.
