Italian TSO Terna issues EUR-500m green bond


April 4 (Renewables Now) - Italian transmission system operator Terna SpA (BIT:TRN) successfully launched on Wednesday a green bond for EUR 500 million (USD 562m).

The green bond was placed by a syndicate of banks including Banca IMI, BNPP, Citi, Goldman Sachs, Mediobanca, Santander and UniCredit, and was oversubscribed by about seven times the offered amount, Terna said in a statement.

The company noted that it will use the net proceeds from the issuance to finance projects that align with the Green Bond Principles 2018 published by the International Capital Market Association (ICMA).

The issuance was made in line with Terna’s EUR-8-billion medium term notes programme (EMTN). The bond has a tenor of seven years and will mature on April 10, 2026. It will pay a coupon of 1.000%, with an issue price equal to 99.886%, a spread of 78 basis points over the midswap and an indicative spread of some 100 basis points lower than the Italian BTP having same maturity, the issuer said.

The bond is to be listed on the Luxembourg Stock Exchange.

(EUR 1.0 = USD 1.123)

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