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Today, 2i Rete Gas S.p.A. executed a new bond issuance under its “€3,500,000,000 Euro Medium Term Notes Programme” for a notional amount of Eur 180 million sold into qualified investors only.
Today’s transaction was executed as a reopening (tap) of the original Eur 550m 1.608% October-2027; after a 40 days period the new notes will be fully fungible and will constitute a single series with the original transaction thus taking the notional amount to Eur 730 million.
The positive market developments in the past market sessions allowed 2i Rete Gas to improve the terms of this reopening with respect to those of the original issue having priced the new notes with a spread of MS+65bps (the original issue having priced at MS+70bps).
The use of proceeds will be general corporate purposes.
Settlement of the reopening will take place on November 22, 2017. The new notes, which in 40 days will constitute a single series with the original issue, have a minimum denomination of Eur 100,000, will be listed on the regulated market managed by the Irish Stock Exchange and will be governed by the English law.
Today’s reopening has been executed by UniCredit Bank AG as sole bookrunner.
Legance – Avvocati Associati is the Issuer counsel, while Simmons & Simmons assisted UniCredit Bank AG.