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A2A SpA Issues EUR 500 Million Bond; Announces Tender Offer for Purchase of FY 2014 and FY 2016 Notes


Tuesday, 2 Jul 2013 02:06pm EDT 

A2A SpA announced that it has placed on the European market a EUR 500 million long-seven-year bond under its EUR 2 billion Medium Term Notes Programme approved by the Management Board of A2A on September 19, 2012. The issue was targeted to institutional investors. In line with the Group's financial strategy A2A has launched simultaneously the bond issue and a Tender Offer for the partial purchase of A2A's EUR 500 million Notes due 2014 and its EUR 1 billion Notes due 2016. The Tender Offer's conditions are described in the Tender Offer Memorandum dated July 2, 2013. The Tender Offer will expire on July 8, 2013. The Senior bond issue recorded a book exceeding EUR 2.5 billion, corresponding to approximately five times oversubscription. The notes - with a minimum denomination of EUR 100,000, and maturity on January 10, 2021, have a 4.375% annual coupon rate, and re- offer price of 99.323%. The re-offer yield is 4.487%, corresponding to 283 basis points over the underlying interest rate swap. The notes are governed by English law. The settlement date is July 10, 2013, and following that date the notes will be traded on the Luxembourg Stock Exchange. The placement of the notes was managed by BBVA, BNP Paribas, Deutsche Bank and Societe Generale, as active Joint Bookrunners, as well as Banca IMI, Mediobanca e UniCredit as passive Joint Bookrunners. The Tender Offer has been managed by BNP Paribas and Deutsche Bank. 

Company Quote

0.8355
0.023 +2.83%
21 Nov 2014