On June 22, 2009 Terna S.p.A. carried out a private placement of fixed-rate bonds worth €600 million.
The ten-year bond, maturing on October 3, 2019 and issued at an all-in price of 98.785%, pays an annual coupon of 4.875%, which corresponds to a spread of 128 basis points over the 6-month Euribor.
The bond issue falls within the scope of the Euro Medium-Term Notes (EMTN) programme, and BNP Paribas and Deutsche Bank acted as joint bookrunners.
The rating assigned to the Company’s unsecured debt by Fitch is “A+”; by Moody’s, “A2”; and by Standard & Poor’s, “A+” with a stable outlook.
The transaction is intended to finance the network development investments envisaged in the Company’s business plan.
This financing was provided on July 3, 2009 in the amount of €592.7 million.