TELECOM ITALIA: EARLY REDEMPTION OF EURO 750 MILLION HYBRID BOND
29 Januar 2014 - 7:36AM
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. This announcement shall not constitute an offer to
sell nor a solicitation of an offer to buy these securities.
TELECOM ITALIA: EARLY REDEMPTION OF EURO 750 MILLION HYBRID
BOND
Rome, 29 January 2014 Telecom Italia has elected to early redeem
all of its outstanding subordinated "hybrid" securities denominated
750,000,000 Capital Securities due 2073 (the "Capital Securities"),
issued last 13 March 2013 as per disseminated press release .
Telecom Italia decided to exercise its early redemption option
following the occurrence of a change in methodology by a rating
agency that implies a reduction in the equity credit initially
granted to the instrument, pursuant to Condition 6.5 (Early
Redemption following a Rating Methodology Event) of the terms and
conditions of the Capital Securities. The Capital Securities shall
be redeemed on 3 March 2014 (the "Early Redemption Date") and the
applicable Early Redemption Price shall be 101 per cent of the
principal amount of the Capital Securities, together with any
interest due up to, but excluding, the Early Redemption Date.
Telecom Italia Ufficio Stampa +39 06 3688 2610
www.telecomitalia.com/media Telecom Italia Investor Relations +39
02 8595 4131 www.telecomitalia.com/investorrelations
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