Tim has placed a jump intended for institutional investors. The bond has a fixed rate, has a five-year maturity and is worth over one billion euros. “The yield of the issue, even to 4,125%, it turns out lower than the group's average cost of debt – reads a note from the company – which at the end of September 2018 amounted to approximately 4,4%. The issue is part of the process of optimizing and refinancing maturing debt”.
In detail, the value of the bond amounts to one billion and 250 million euros. The settlement date is January 11, 2019, while the deadline is set for 11 April 2024. The effective yield at maturity, equal to 4,125%, corresponds to a yield of 387,6 basis points above the reference rate (mid-swap). “The bonds will be issued under the group's 20 billion EMTN program – concludes the note – and will be listed on the Luxembourg Stock Exchange”.
