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Today 2i Rete Gas S.p.A. has launched a new series of notes to be issued under its €3,500,000,000 Euro Medium Term Notes programme for an aggregate principal amount of Euro 550 million, placed exclusively with qualified investors.
The net proceeds will be used to finance the acquisition of 100% of the share capital of each of Nedgia
S.p.A. and Gas Natural Italia S.p.A. and for general corporate purposes.
The notes will have the following characteristics: Euro 550 million in principal amount due in October 2027, issue price of 100%, 70 bps spread over the mid-swap rate and coupon of 1.608%.
The settlement date is expected to be on 31 October 2017, subject to the signing of the relevant contractual documentation and the satisfaction of the conditions precedent.
The notes will have a minimum denomination of Euro 100,000, will be listed on the regulated market managed by the Irish Stock Exchange and will be governed by the English law.
It is expected that Moody’s and Standard & Poor’s will assign a rating to the notes.
The placement of the notes is managed by Barclays Bank PLC, BNP Paribas, Mediobanca – Banca di Credito Finanziario S.p.A., Merrill Lynch International, Société Générale e UniCredit Bank AG, as joint lead managers.
Legance – Avvocati Associati provided assistance to the Company while the joint lead managers were assisted by Simmons & Simmons.