Terna successfully placed on Thursday a 500 million euro bond with a six-year maturity (July 25, 2025). Very high the question, which outsold the offer by about four times, arriving over 1,8 billion.
Against initial guidance of 70 basis points above midswap, the yield it was set at 45 above the reference rate and with an indicative spread approximately 70 bps lower than the BTP of the same duration.
THEemission will pay a coupon of 0,125%, the lowest for an Italian corporate bond with a duration of more than 5 years.
The institutions involved in the operation are Banca Akros, Banca Imi, Bnp Paribas, Morgan Stanley, Société Générale, Smbc Nikko and UniCredit.
The bond was attributed i rating “BBB+” from Standard and Poor's, “(P)Baa2” from Moody's, “BBB+” from Fitch and “A-” from Scope.
A request for admission to listing on the stock market will be presented for the bond Luxembourg Stock Exchange.
