Ansaldo Energia gets tenders for €159.15 million 2.875% notes due 2020

By Susanna Moon

Chicago, May 24 – Ansaldo Energia SpA said investors had tendered €159,154,000 principal amount of its €420 million 2.875% notes due April 28, 2020 in the offer that ended at 5 p.m. ET on May 23.

The purchase price is 106.2, with pricing set at 9 a.m. ET on May 24 using the interpolated reference rate of negative 0.038% plus a purchase spread of 75 basis points for a purchase yield of 0.712%, according to a company update on Wednesday.

The company said on May 16 that it was tendering for up to €250 million principal amount of the notes until 5 p.m. ET on May 23.

Holders also will receive accrued interest.

After settlement on May 31, the amount left outstanding will be €260,846,000.

The company plans to issue a series of new euro-denominated senior fixed-rate notes, and the offer is contingent on closing of the new notes on June 1.

Banca IMI SpA (+39 02 7261 5938 or Liability.Management@bancaimi.com), BNP Paribas (+44 0 20 7595 8668 or liability.management@bnpparibas.com), Credit Agricole Corporate and Investment Bank (+44 0 20 7214 5482 or liability.management@ca-cib.com), HSBC Bank plc (+44 0 20 7992 6237 or LM_EMEA@hsbc.com) and UniCredit Bank AG (+49 89 3781 3722 or corporate.lm@unicredit.de) are the dealer managers.

The tender agent is Lucid Issuer Services Ltd. (+44 0 20 7704 0880 or ansaldoenergia@lucid-is.com).

The power engineering company is based in Genoa, Italy.

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