A2A starts tender for maximum amount of 4.5%, 4.375% notes

New York, Nov. 28 – A2A SpA announced a tender offer for a maximum amount of its €750 million of 4.5% notes due Nov. 28, 2019 and its €500 million of 4.375% notes due Jan. 10, 2021.

The maximum amount will be set at a future date, according to a notice from the issuer.

Pricing for the 4.5% notes will be set using a purchase yield of 0%. If the settlement date is Dec. 6 then the purchase price will be €1,134.01 per €1,000 principal amount.

For the 4.375% notes, the price will be set using a purchase spread of 40 basis points over an interpolated reference rate.

In both cases, the price will reflect the present value of all future principal and interest payments, discounted using the purchase yield.

Accrued interest will be excluded from the calculation but will be paid separately.

Holders must tender by 11 a.m. ET on Dec. 1 to participate. A2A plans to announce indicative results at 4 a.m. ET on Dec. 2. Pricing will be set at 8 a.m. ET on Dec. 2. Settlement is planned for Dec. 6.

BNP Paribas (+44 20 7595 8668 or liability.management@bnpparibas.com), Citigroup Global Markets Ltd. (+44 20 7986 8969 or liabilitymanagement.europe@citi.com) and UniCredit Bank AG (+49 89 378 13722 corporate.lm@unicredit.de) are structuring advisers and dealer managers. Lucid Issuer Services Ltd. (+44 20 7704 0880 or a2a@lucid-is.com) is tender agent.

A2A is a Brescia, Italy-based electric utility.

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