Italgas S.p.A. Advised By A&O Shearman On New EUR1 Billion Dual-Tranche Issue

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.