Italgas S.p.A. Advised By A&O Shearman On New EUR1 Billion Dual-Tranche Issue
A&O Shearman assisted Italgas S.p.A. in completing a €1 billion dual-tranche bond issuance under the Euro Medium Term Notes program, with bonds listed on the Luxembourg Stock Exchange.;
Italgas S.p.A. advised by A&O Shearman on new EUR1 billion dual-tranche issue
English law governs the bonds that are listed on the Luxembourg Stock Exchange-managed regulated market
The placement of a five and nine-year ‘dual-tranche’ fixed-rate bond issue for a total amount of EUR1bn has been completed by Italgas S.p.A. under the Euro Medium Term Notes programme. A&O Shearman helped the pool of financial institutions Société Générale, Morgan Stanley, J. P. Morgan, Citi, BofA Securities and Joint Bookrunners Banca Akros in the transaction.
The issue comprises a tranche of EUR500 million maturing in 2030, with a fixed annual coupon of 2.875%; and a second tranche of EUR500m maturing in 2034, with a fixed annual coupon of 3.500%.
English law governs the bonds that are listed on the Luxembourg Stock Exchange-managed regulated market.
Partner Cristiano Tommasi led the A&O Shearman team, supported by senior associates Sarah Capella and Elisabetta Rapisarda and trainee Lisa Avitabile. Counsel Elia Ferdinando Clarizia assisted on tax-related aspects.
