Aeroporti di Roma tenders for €150 million of 1.625% notes due 2027

By Devika Patel

Knoxville, Tenn., July 5 – Aeroporti di Roma SpA invited holders to tender up to €150 million of the company’s €500 million 1.625% notes due June 8, 2027 (ISIN: XS1627947440) for purchase as part of a bid to reduce its liabilities.

The offer started on July 3.

The company will pay for the tendered notes at a price based on the interpolated mid-swap rate minus 20 basis points, plus accrued interest. Pricing will be determined at 6 a.m. ET on July 11.

The offer expires at 11 a.m. ET on July 10, with settlement expected July 14.

Simultaneously, the company offered new notes under its €2 billion medium-term note program. Holders who tender their notes were able to opt to participate in the new offering.

The tender offer is contingent on the successful completion of the new notes offering.

The dealer managers are Barclays Bank Ireland plc (+44 20 3134 8515 or eu.lm@barclays.com) and BNP Paribas SA (+33 1 55 77 78 94 or liability.management@bnpparibas.com).

Kroll Issuer Services Ltd. is the tender agent (+44 20 7704 0880, adr@is.kroll.com, https://deals.is.kroll.com/adr).

Aeroporti di Roma is a Rome-based company that works on the construction and management of airports as well as in activities related or complementary to air traffic in Italy.

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