BAKU, Azerbaijan, April 9. Today, Snam S.p.A. successfully issued a 2-year Floating Rate Note for a total of 750 million euros, with a rate of Euribor 3-month plus 0.40 percent, Trend reports.
This move aligns with Snam’s financial strategy to lower debt costs, aiming for an average of 2.6 percent over the planned period.
According to the company, the notes are part of Snam’s 13 billion euro medium-term note (EMTN) program, which the Board of Directors last renewed on October 11, 2023, and will be listed on the Luxembourg Stock Exchange.
The placement was managed by Banca Akros, BNP Paribas, Crédit Agricole, IMI-Intesa Sanpaolo, and UniCredit.
"We are particularly satisfied with the outcome of today's issuance, which has collected an extraordinary demand from the market. It is the result of our ongoing effort to seize opportunities to reduce the cost of our debt while diversifying our investor base. We are strongly committed to pursuing our financial strategy, ensuring value creation for all our stakeholders, in line with our Strategic Plan presented to the financial community in January," said Snam’s Finance Director Nicole Della Vedova.