Telecom Italia S.p.A.: TELECOM ITALIA ISSUED A 7-YEAR BOND FOR 1 BILLION EURO
19 Settembre 2013 - 5:57PM
Annunci Borsa (Testo)
PRESS RELEASE
The Securities referred to in this press release have not been and
will not be registered under the US Securities Act of 1933, as
amended, and may not be offered or sold in the United States absent
registration or an applicable exemption from the registration
requirements. This announcement shall not constitute an offer to
sell nor a solicitation of an offer to buy these securities.
TELECOM ITALIA ISSUED A 7-YEAR BOND FOR 1 BILLION EURO THE COMPANY
IS FUNDING BELOW ITS AVERAGE COST OF DEBT The amount and quality of
the orders allowed raising funds at a lower yield than indicated by
initial guidance
Milan, 19 September 2013 Telecom Italia successfully issued a Euro
1 billion fixed rate bond offered to institutional investors. The
great quality of the orders book confirms the market's positive
attitude towards Telecom Italia's credit, allowing the company to
price the issue at a lower yield than the initial guidance. The
yield of the bond, equal to 5.054%, is largely below the average
cost of debt (5.4% at the end of June 2013). The proceeds of this
issue will be used to refinance maturing debt. Details are: Issuer:
Telecom Italia S.p.A. Amount: Euro 1 billion Settlement date: 25
September 2013 Maturity: 25 September 2020 Coupon: 4.875% Issue
price: 98.966% Redemption price: 100% The actual yield to maturity
of 5.054%, corresponds to a yield of 330 basis points above the
reference rate (mid swap). The notes will be issued under the
Group's Euro 20 billion EMTN programme and will be listed on the
Luxembourg Stock Exchange. Telecom Italia Press Office
+39 06 3688 2610 http://www.telecomitalia.com/media
Telecom Italia Investor Relations
+39 02 8595 4131 www.telecomitalia.com/investorrelations
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