<\/strong>
MILAN: Telecom Italia<\/a> (TIM<\/a>) raised 1 billion euros ($1.2 billion) with its first green bond, one of the lead managers said on Monday, as Italy's biggest phone group strives to upgrade its networks.
The sale of the eight-year issue, which marks TIM's return to the bond market after a nearly two-year absence, attracted over 2.8 billion euros in final orders, the lead manager added.
The former phone monopoly is working to modernise its fixed and mobile grids to improve energy efficiency as it targets carbon neutrality by 2030. Green bonds allow borrowers to raise funds for projects that benefit the environment.
Final guidance on price was set on a yield of 1.75%, according to the lead, down from initial indications of a yield of around 2.25%, equivalent to a spread of 255-260 basis points over the mid-market swap rate.
\"The issue reached a wide range of investors, with orders coming from over 350 accounts. We are very satisfied considering that before today's deal TIM had been absent from the market since April 2019,\" said Carolina Marazzini, co-head of debt origination at UniCredit<\/a>.
Banca Akros, BNP Paribas, Credit Agricole CIB, Deutsche Bank<\/a>, UniCredit, Banco Santander<\/a>, BBVA, Credit Suisse<\/a> and UBI Banca were the lead managers for Monday's bond sale.
Last month, Moody's downgraded TIM's rating further in junk territory, citing \"a very competitive operating environment in Italy which will further constrain the company's ability to strengthen cash flow generation and reduce leverage\".
But TIM took advantage of record-low borrowing costs driven by the massive stimulus measures deployed by the European Central Bank to help the euro zone economy weather the impact of the coronavirus pandemic.
When it last tapped the market in April 2019, TIM raised 1 billion euros via a senior bond due in April 2025 at a yield of 2.875%.
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意大利电信首次与1-bln-euro绿色债券市场出售
八年的销售问题,这是蒂姆的重返债券市场近两年的缺席后,吸引了超过28亿欧元的最终订单,lead manager补充道。
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由埃尔韦拉罗西花粉门和莎拉
米兰:意大利电信(蒂姆)提出了10亿欧元(12亿美元)的首次绿色键,一个高层管理人员周一表示,意大利最大的手机集团努力升级其网络。
八年的销售问题,这是蒂姆的重返债券市场近两年的缺席后,吸引了超过28亿欧元的最终订单,lead manager补充道。
前电话垄断正在现代化其固定和移动网格提高能源效率,因为它在2030年达到碳中和目标。绿色债券允许借款人为有益于环境的项目筹集资金。
最终指导价格收益率为1.75%,根据铅,从最初的迹象产量的2.25%左右,相当于255 - 260个基点的息差在中端市场交换率。
“问题达成了一项广泛的投资者来说,订单来自超过350个账户。我们非常满意之前考虑到今天的蒂姆已经缺席的交易市场2019年4月以来,“卡Marazzini说,债务筹措联席主管意大利联合信贷银行。
螃蟹船Akros,法国巴黎银行、法国农业信贷银行联会,德意志银行(Deutsche Bank)意大利联合信贷银行,桑坦德银行西班牙对外银行,瑞士信贷(Credit Suisse)和UBI螃蟹船是铅经理周一的债券发行。
上月,穆迪下调了蒂姆的评级在垃圾进一步领土,引用”在意大利一个竞争非常激烈的经营环境将进一步限制公司加强现金流的能力生成和减少杠杆”。
但蒂姆利用借贷成本创下新低,受欧洲央行的大规模刺激措施部署来帮助欧元区经济的天气冠状病毒大流行的影响。
当它最后利用市场2019年4月,蒂姆通过高级债券筹资10亿欧元将在2025年4月的收益率2.875%。
米兰:意大利电信(蒂姆)提出了10亿欧元(12亿美元)的首次绿色键,一个高层管理人员周一表示,意大利最大的手机集团努力升级其网络。
八年的销售问题,这是蒂姆的重返债券市场近两年的缺席后,吸引了超过28亿欧元的最终订单,lead manager补充道。
前电话垄断正在现代化其固定和移动网格提高能源效率,因为它在2030年达到碳中和目标。绿色债券允许借款人为有益于环境的项目筹集资金。
最终指导价格收益率为1.75%,根据铅,从最初的迹象产量的2.25%左右,相当于255 - 260个基点的息差在中端市场交换率。
“问题达成了一项广泛的投资者来说,订单来自超过350个账户。我们非常满意之前考虑到今天的蒂姆已经缺席的交易市场2019年4月以来,“卡Marazzini说,债务筹措联席主管意大利联合信贷银行。
螃蟹船Akros,法国巴黎银行、法国农业信贷银行联会,德意志银行(Deutsche Bank)意大利联合信贷银行,桑坦德银行西班牙对外银行,瑞士信贷(Credit Suisse)和UBI螃蟹船是铅经理周一的债券发行。
上月,穆迪下调了蒂姆的评级在垃圾进一步领土,引用”在意大利一个竞争非常激烈的经营环境将进一步限制公司加强现金流的能力生成和减少杠杆”。
但蒂姆利用借贷成本创下新低,受欧洲央行的大规模刺激措施部署来帮助欧元区经济的天气冠状病毒大流行的影响。
当它最后利用市场2019年4月,蒂姆通过高级债券筹资10亿欧元将在2025年4月的收益率2.875%。
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