TIM announced that, following the Board of Directors’ resolution o 18 January last and following the completion of the bookbuilding process, has successfully issued a €850 million unsecured fixed-rate bond offered to institutional investors.
The proceeds of the new issue will be used to optimize and refinance existing debt maturities.
Below are the details:
Issuer: TIM S.p.A.
Amount: € 850 million
Settlement date: 27 January 2023
Maturity: 15 February 2028
Issue price: 100.0%
Redemption price: 100.0%
The terms and conditions of the notes include covenants on the issuer typical for this kind of transaction, such as, negative pledge and the limitation to the possibility to carry out extraordinary corporate transactions, unless in compliance with certain predetermined parameters.
The bond will be listed on the Euro MFT market of the Luxemburg Stock Exchange. It is expected that the rating agencies will assign to the bond a rating of B1 / B+ / BB- (Moody's / S&P’s / Fitch).
This announcement (and the information contained therein) does not constitute or form part of any offer to sell nor a solicitation of any offer to buy any securities nor shall there be any offer of securities in any jurisdiction in which such offer or sale would be unlawful. It may be unlawful to distribute this announcement in certain jurisdictions. This announcement does not constitute an offer of securities for sale in the United States, Canada and Japan and in any jurisdiction in which such offer or sale would be unlawful and is not for publication or distribution in any such jurisdictions. The securities referred to in this announcement have not been and will not be registered under the US Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This announcement is not a public offer of financial products in Italy as per Article 2, letter (d), of Regulation (EU) 2017/1129. The documentation relating to the offer has not been/will not be submitted to the approval of CONSOB.
Rome, 20 January 2023