Key Developments: A2A SpA (A2.MI)

A2.MI on Milan Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Iren SpA to Exit Edipower and A2A SpA to Reach 71% Stake-Reuters
Tuesday, 30 Jul 2013 08:00pm EDT 

Reuters reported that from November 1, 2013 Iren SpA will exit from the share capital of Edipower, allowing A2A SpA to reach a 71% stake and reduce its debts by approximately EUR 40 million. According to the agreements, Iren will be assigned with the Turbigo high-efficiency CCGT plant and of the Tusciano hydroelectric plant. The share capital of Edipower will be made of, in addition to A2A's stake, Dolomiti Energia by 8,5%, Sel 8,5%, Mediobanca 5,1%, Fondazione Crt 4,3% and Bpm 2,6%.  Full Article

A2A SpA Announces Sale Of Subsidiary
Wednesday, 3 Jul 2013 01:09am EDT 

A2A SpA announced that it has accepted an offer from BKW for the acquisition of the fully owned subsidiary Chi.Na.Co S.r.l., owner of five small hydro run-of-river plants, with total installed capacity of approximately 8 MW. The offer price is EUR 38 million, with possible additional EUR 1.6 million subject to certain conditions by the end of 2014. The transaction will be completed by July 5, 2013, once the necessary documentation is completed.  Full Article

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.  Full Article

Standard & Poor’s Confirms A2A SpA's Long-Term and Short-Term Credit Rating With Negative Outlook
Wednesday, 8 May 2013 12:54pm EDT 

A2A SpA announced that Standard & Poor’s has confirmed A2A’s long-term credit rating at BBB with negative outlook, as well as the short-term rating at A-2. The rating confirmation reflects A2A’s effort in the debt reduction plan and the effective financial strategy, aimed at providing in advance adequate funds to debt repayments. Moreover, Standard & Poor’s has confirmed A2A’s stable business profile, sustained by a high level of diversification and integration, and strengthened by its presence in regulated businesses.  Full Article

A2A SpA Signs New EUR 600 Million Five-Year Revolving Credit Line
Monday, 22 Apr 2013 02:16pm EDT 

A2A SpA announced that it has signed an agreement for a new five-year revolving credit line of EUR 600 million aimed at replacing the so far unused credit facilities expiring in the next 24 months. Following the transaction, the overall available credit lines amount to EUR 1,640 million. Their average duration is 3.6 years, and it ensures A2A Group with financial flexibility. Nine European banking Groups took part in the transaction – six of them are Italian banks.  Full Article

A2A SpA Proposes Dividend Distribution for FY 2012
Thursday, 14 Mar 2013 08:29am EDT 

A2A SpA announced that the Management Board decided to propose to the Shareholders' Meeting the payment of a dividend of EUR 0.026 per ordinary share for the fiscal year 2012 (EUR 0.013 in 2012), which will be payable on June 27, 2013 (ex-dividend date June 24, 2013) with record date on June 26, 2013.  Full Article

A2A SpA Exercises Put Option to Sell 25.7% Stake in Metroweb Spa to F2i Reti Tlc SpA
Tuesday, 27 Nov 2012 06:25am EST 

A2A SpA announced that on November 27, 2012 it has exercised the put option to sell its 25.7% stake in Metroweb SpA to F2i Reti Tlc SpA, Metroweb’s controlling shareholder. A2A had obtained the shares subject to the put option by converting on October 6, 2011 a convertible bond it had kept in its portfolio on June 30, 2011, when it sold its stake to F2i. By exercising the put option, A2A will collect approximately EUR 60 million, resulting in a capital gain of about EUR 35 million. Metroweb was established in 1997 by AEM SpA (under the name Citytel) to develop and manage broadband telecommunication networks. Since the initiation of the Citytel/Metroweb transaction, until the exercise of the put option, A2A invested approximately EUR 10 million and gained approximately EUR 145 million overall.  Full Article

A2A SpA Announces Placing of EUR 750 Million Bond on European Market
Friday, 23 Nov 2012 12:34pm EST 

A2A SpA announced that it has successfully placed a EUR 750 million seven-year bond targeted to institutional investors on the European market. The bond has been issued under A2A's Medium Term Notes Programme and was approved by the Management Board on November 15, 2012. The notes have a minimum denomination of EUR 100,000, mature on November 28, 2019, and have a 4.500% annual coupon rate. The reoffer price has been 99.718%, with a reoffer yield of 4.548%, 325 basis points over the underlying interest rate swap (7-year mid-swap). The notes are governed by English law. The settlement date is November 28, 2012. The notes will be traded on the Luxembourg Stock Exchange. The placement of the notes has been managed by Banca IMI, BNP Paribas, Mediobanca and UniCredit Bank, as active Joint Bookrunners, as well as Banca Akros – Gruppo BPM and Centrobanca as passive Joint Bookrunners.  Full Article

A2A SpA Approves Resolution Authorizing Issuance of Bond Securities
Thursday, 15 Nov 2012 07:41am EST 

A2A SpA announced that the Management Board of A2A SpA approved a resolution authorizing the issuance of bond securities in the amount of up to EUR 1 billion as part of the EUR 2 billion EMTN programme approved on September 19, 2012. The securities are to be placed with qualified investors, and an application will be made for their admission to trading on the Luxembourg Bourse.  Full Article

A2A SpA Issues EBITDA Guidance for FY 2015 In Line with Analysts' Estimates
Thursday, 8 Nov 2012 07:54am EST 

A2A SpA announced that it expects EBITDA of EUR 1.3 billion for the fiscal year 2015, corresponding to an increase of around EUR 280 million compared to 2012. According to I/B/E/S Estimates analysts on average are expecting the Company to report EBITDA of EUR 1,273.35 million for the fiscal year 2015 and EUR 1,040.74 million for the fiscal year 2012.  Full Article

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