A2A accepts tenders for €258.18 million of 4.5% notes due 2016

By Jennifer Chiou

New York, Feb. 25 – A2A SpA announced the receipt of tenders for €258,179,000 of its €761,591,000 of outstanding 4.5% notes due 2016. It has accepted all tenders, leaving €503,412,000 of notes outstanding.

The maximum acceptance amount of €258,179,000 was set at 4 a.m. ET on Feb. 25.

Holders had to tender their notes by 11 a.m. ET on Feb. 24. The offer began on Feb. 18.

The purchase price will be 107.57% of par, or €1,075.70 for each €1,000 principal amount, and settlement is set for Feb. 26, according to a company notice.

The company will also pay accrued interest of 1.43014%.

As reported, the minimum tender denomination was €50,000 with integral multiples of €1,000 after that.

The offer was made to lengthen its debt maturity profile, the company said.

The tender offer was conditioned on pricing of A2A’s new issue of euro-denominated senior fixed-rate notes under its €4 billion euro medium-term note program, A2A previously stated.

Barclays Bank plc (attn.: liability management group, 44 0 20 3134 851 or eu.lm@barclays.com) and BNP Paribas (attn.: liability management group, 44 0 20 7595 8668 or liability.management@bnpparibas.com) were the structuring advisors and dealer managers.

The tender agent was Lucid Issuer Services Ltd. (attn.: Thomas Choquet, 44 0 20 7704 0880 or a2a@lucid-is.com).

A2A SpA is a Brescia, Italy-based electric utility. It originally issued €1 billion of the notes.

© 2015 Prospect News.
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