Strong response with orders from investors above €1.7bn, which implies an oversu scription ratio of almost 3x
Milan, 8 th June 2022 - A2A (Moody’s Baa2/stable - Standard & Poors BBB/negative) successfully launched a new Green Bond with a size of €600mln and maturity 4 years.
The new transaction received a strong investor response: indeed, the total order book amounted above €1.7bn, implying an oversubscription ratio of almost 3x. The new Green Bond, which is addressed to institutional investors only and has been issued under the Euro Medium Term Notes Programme, is based on A2A’s Sustainable Finance Framework.
Notes have an issue price of 99.580% and a reoffer yield equal to 2.612%. Coupon has been set at 2.500% whilst the final spread over the reference mid swap rate is equal to 93bps.
"This transaction supports the country's green transition and contributes to the achievement of sustainability targets that A2A has set in its Strategic Plan" Renato Mazzoncini, CEO of A2A, said.
The net proceeds from the issuance will be used to finance and/or refinance strategic projects in the fields of circular economy and energy transition: the so-called Eligible Green Projects mainly related to renewable energy, energy efficiency, and pollution prevention and control, as defined in A2A’s Sustainable Finance Framework.
A2A pre-emptively assessed the alignment of those green projects to the EU Taxonomy (with particular reference to the substantial contribution to the environmental objective of 'Climate Change Mitigation').
In addition, A2A commits to disclose, as part of its allocation report, prepared in accordance with the Sustainable Finance Framework, also the actual amount of investments aligned to the EU Taxonomy that have been financed through the Green Bond.
The notes are subject to the English Law and will be listed on the Luxembourg Stock Exchange from the 15th of June 2022 once all the relevant documentation will be signed.
IMI-Intesa Sanpaolo and Santander acted as Global Coordinators whilst BBVA, BNP Paribas, Crédit Agricole CIB, Goldman Sachs International, IMI-Intesa Sanpaolo, Mediobanca, Santander, and UniCredit acted as Joint Bookrunners.
A2A is assisted by the legal counsel Simmons & Simmons whilst the Joint Bookrunners by Allen & Overy.
Contacts:
Giuseppe Mariano
Media Relations, Social Networking and Web Responsabile
Silvia Merlo – Silvia Onni
Ufficio stampa
ufficiostampa@a2a.eu
Tel. [+39] 02 7720.4583
A2A – Investor Relations
ir@a2a.eu
Tel. [+39] 02 7720.3974
Useful resources
Services
A2A S.p.A. - P.I. 11957540153