Aeroporti di Roma wraps tender offer for 3.25% notes; pricing set

By Susanna Moon

Chicago, June 1 – BNP Paribas SA said investors had tendered €264,899,000 of the €600 million of 3.25% notes due Feb. 20, 2021 issued by Aeroporti di Roma SpA.

The company will accept for purchase €199,999,000 of the tendered notes using a proration factor of 75.1552%, according to a company update on Thursday.

The purchase price will be 111.193, using a purchase yield of 0.217%, according to a separate notice. Pricing was set at 8 a.m. ET on June 1 using the interpolated mid-swap rate plus 20 basis points for a reference rate of 0.217%.

Holders also will receive accrued interest.

As announced, BNP was tendering for up to €200 million of the notes from May 24 until 11 a.m. ET on May 31.

After settlement on June 6, there will be €400,001,000 of the notes left outstanding.

Aeroporti di Roma previously said it plans to price new euro-denominated fixed-rate notes under its €1.5 billion euro medium-term note program.

The tender offer is contingent on pricing and issue of the new notes.

The dealer managers are Barclays Bank plc (+44 20 3134 8515 or eu.lm@barclays.com), BNP Paribas SA (+44 20 7595 8668 or liability.management@bnpparibas.com), Societe Generale (+44 20 7676 7680 or liability.management@sgcib.com) and UniCredit Bank AG (+49 89 378 13722 or corporate.lm@unicredit.de).

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

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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