Salini Impregilo gives final results of exchange offer for 3¾% notes

By Sarah Lizee

Olympia, Wash., Jan. 17 – Salini Impregilo SpA announced the final results of its exchange offer for any and all of its outstanding €600 million 3¾% notes due June 24, 2021 (ISIN: XS1435297202) for new euro-denominated senior fixed-rate notes.

The company said it will accept €120.97 million of existing notes and will issue €126,659,000 of 3 5/8% notes due Jan. 28, 2027 at par in exchange.

The exchange ratio is 104.75%.

The company is issuing an additional €123,341,000 of the new notes separate from the exchange. The total size of the issuance is €250 million.

The exchange offer expired at 11 a.m. ET on Jan. 16.

Settlement is slated for Jan. 28.

Banca Akros SpA – Gruppo Banco BPM (dcm@bancaakros.it,+39 02 4344 5203), Banca IMI SpA (liability.management@bancaimi.com, +39 02 72 61 4704/4782), Citigroup Global Markets Ltd. (+44 20 7986 8969, liabilitymanagement.europe@citi.com), Goldman Sachs International (liabilitymanagement.eu@gs.com, +44 20 7774 9862), Merrill Lynch International (DG.LM-EMEA@bofa.com, +44 20 7996 5420), Natixis (liability.management-corporate@natixis.com, +33 158550814, +33 158550556, +39 2 00 66 71 54) and UniCredit Bank AG (dcmitaly@unicredit.eu; corporate.lm@unicredit.de, +39 02 8862 0581, +49 89 378 13722) are the joint dealer managers for the Regulation S exchange offer.

Lucid Issuer Services Ltd. (+44 20 7704 0880, attn.: Thomas Choquet, salini@lucid-is.com) is the exchange agent.

Salini Impregilo is a construction and civil engineering company based in Milan.

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