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Hera: placement of new bonds under the EMTN programme for Euro 400 million

Not increased the overall indebtedness of the Group

Today, Hera S.p.A (the “Company”) successfully placed on the Euromarket a Euro 400 million, 10-year bond offered to qualified investors at Mid Swap Rate + 60 basis points. The credit spread at which the Group has priced the new issue is 45 basis points below the 10-year Italian BTP.

Investors’ demand was over 2 times above the offer and has allowed to improve the initial price by 15 basis points.

The bonds will be issued under the Euro Medium Term Notes Programme, will bear a coupon of 0.875% and will be listed on the regulated market managed by the Luxembourg Stock Exchange. The settlement date of the new issue is expected to fall on 14 October 2016.

The transaction was carried out in the context of the tender offer on the Company’s outstanding bonds due 2019 (ISIN Code XS0471071133) and 2021 (ISIN Code XS0976307040) listed on the regulated market of the Luxembourg Stock Exchange, launched by BNP Paribas, as offeror, pursuant to the agreements entered into with the Company. The transaction allows for a proactive management of the Company’s indebtedness, with the aim of optimizing its cost and average duration, extended from 8.2 years to approximately 9 years, without increasing the overall indebtedness of the Group.

The placement has been arranged by Banca IMI, BNP Paribas, Crédit Agricole Corporate and Investment Bank, Deutsche Bank AG, London Branch, Mediobanca – Banca di Credito Finanziario S.p.A. and UniCredit Bank AG in their capacity as Joint Bookrunners.

The Company was assisted by Legance – Avvocati Associati, the Joint Bookrunners have been assisted by Linklaters.

Documents will be available on Hera’s website www.gruppohera.it under the Investor Relations section and at the authorised storage mechanism on the website www.1info.it.

Online since 06-10-2016 at 18:50
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