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TI.A - Telecom Italia SpA News Story

$5.21 0.0  0.0%

Last Trade - 05/07/19

Large Cap
Market Cap £8.70bn
Enterprise Value £33.41bn
Revenue £13.61bn
Position in Universe th / 6651

UPDATE 1-Telecom Italia to issue 8-year green bond for up to 1 bln euros - source

Mon 11th January, 2021 9:27am
(Adds details on yield)
    MILAN, Jan 11 (Reuters) - Telecom Italia (TIM)  TLIT.MI  is
preparing to raise up to 1 billion euros ($1.2 billion) with its
first green bond, a source with knowledge of the matter said on
Monday, as Italy's biggest phone group strives to upgrade its
    The former phone monopoly is working to modernise its fixed
and mobile grids, making them more energy-efficient and
targetting carbon neutrality by 2030. 
    Green bonds allow borrowers to raise funds for projects that
benefit the environment.
    The source said the bond had an eight-year maturity and
would be issued for up to 1 billion euros. 
    The initial indications on the price point to a yield of
around 2.25%, equivalent to a spread of 255-260 basis points
over the mid-market swap rate, the source added. 
    A market source confirmed the pricing details. 
    Banca Akros, BNP Paribas, Credit Agricole CIB, Deutsche
Bank, UniCredit, Banco Santander, BBVA, Credit Suisse and UBI
Banca are lead managing the bond sale.  
    ($1 = 0.8207 euros)

 (Reporting by Elvira Pollina, Sara Rossi and Stefano Bernabei.
Editing by Valentina Za and Mark Potter)
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