A2A board approves bond issue for up to 1 bln euros

MILAN Thu Nov 15, 2012 8:01am EST

MILAN Nov 15 (Reuters) - A2A, Italy's biggest regional utility, said on Thursday its management board had approved the issuance of bonds worth up to 1 billion euros ($1.27 billion).

The issue is part of a 2 billion euro programme approved on September 19 aimed at extending the average life of its debt and keep the financial flexibility to support its credit rating.

The bonds to be issued will be placed with institutional investors, A2A said. ($1 = 0.7856 euros) (Reporting by Antonella Ciancio)