requests for four times the offer – Corriere.it

Maximum request equal to four times the offer. the result of the launch of Terna’s latest green bond, concluded on 17 July: a ten-year fixed-rate security, with an annual coupon of 3.875%. The settlement date of the bond issue, which will mature on July 24, 2033, July 24, 2023 and the nominal amount of 650 million euros. The membership, notes the company, is characterized by high quality and broad geographical diversification of investors. The bond was launched as part of Terna’s Euro Medium Term Notes (Emtn) programme, the total amount of which is equal to 9 billion euros and which has been assigned a BBB+ rating by Standard and Poor’s and (P)Baa2 by Moody’s.

The proceeds

The net proceeds of the issue are expected to be used to finance the company’s eligible green projects, sustainable projects identified or to be identified on the basis of the company’s Green Bond Framework led by CEO Giuseppina Di Foggia. the document drawn up in accordance with the Green Bond Principles 202 published by the International Capital Market Association and the Taxonomy of the European Union, aimed at promoting sustainable investments.

The price

expected the application for admission of the security on the regulated Luxembourg Stock Exchange. The issue price will be 99.107% with a difference of 90 points compared to the midwap interbank rate and final cost final cost of the bond significantly lower than the issue price – notes Terna – thanks to the previous subscription of interest rate hedging instruments interest for lower values ​​than current conditions. The operation was supported by a syndicate of banks, in which the following acted as joint bookrunners: BofA Securities, Bnp Paribas, Deutsche Bank, IMI-Intesa Sanpaolo, Mediobanca, Santander, Socit Gnrale, Unicredit.