Telecom Italia S.p.A.: successfully completes the launch of a bond
18 Mai 2011 - 10:20PM
Italian Regulatory (Text)
PRESS RELEASE
The Securities referred to in this press release have not been and
will not be registered under the US Securities Act of 1933, as
amended, and may not be offered or sold in the United States absent
registration or an applicable exemption from the registration
requirements.
TELECOM ITALIA SUCCESSFULLY COMPLETES THE LAUNCH OF A 7YEAR BOND
FOR 750 MILLION EURO The amount and quality of the orders allowed
the raising of funds at the tight end of the initial price
guidance
Milan, 18 May 2011 Telecom Italia successfully completed a Euro 750
million fixed rate bond issue offered to institutional investors.
The wide range of investors participating in the transaction
confirms the market positive attitude towards Telecom Italia's
credit. This issue positively contributes to lower Telecom Italia's
average cost of debt � which as of March 31st, 2011 stood at 5.4%
- and the proceeds will be used to refinance maturing debt. Details
are: Issuer: Telecom Italia S.p.A. Amount: Euro 750 million
Settlement date: 25 May 2011 Maturity: 25 May 2018 Coupon: 4.75%
Issue price: 99.889% Redemption price: 100% The effective yield to
maturity is 4.769% per year, which corresponds to a yield of 162
basis points above the reference rate (mid � swap). The notes
will be issued under the Group's Euro 20 billion EMTN Programme and
will be listed on the Luxembourg Stock Exchange. Telecom Italia
Press Office
+39 06 3688 2610 http://www.telecomitalia.com/media
Telecom Italia Investor Relations
+39 06 3688 3113 www.telecomitalia.com/investorrelations
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