The issue will take place via private placement
Milan, 13 July 2007 - Telecom Italia today successfully priced a floating-rate bond issue for a total value of 500 million Euro and with maturity in July 2013.
With this operation, Telecom Italia has taken the opportunity to re-finance maturing debt and reduce its average overall cost.
The terms set for the issue are as follows:
· issuer: Telecom Italia S.p.A.
· amount: 500 million euro
· issue date: 19 July 2007
· maturity: 19 July 2013
· duration: 6 years
· coupon: Euribor 3 month +0.63% payable quarterly
· issue price: 100.00%
· effective yield at maturity: Euribor 3 month +0.63%
The operation which took the form of a private placement is part of Telecom Italia’s 15 billion euro Euro Medium Term Note (EMTN) programme.
The issue will be quoted on the Luxembourg stock exchange.
The securities referred to in this press release have not been and will not be registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.