Invitalia SpA (INVITA)

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Invitalia SpA (INVITA)

C/P	Industry	Status	Ticker(s)	Issuer(s)	Size(m)		Tranches	Region	Date
IGC	SSA	PRCD	INVITA	Invitalia SpA	€350		1	EMEA	Nov 7, 2022

Tranche #1Invitalia SpA

currency

EUR

size (m)

350.000

maturity

Nov 14, 2025

type

Fixed

tenor

3.000

call

registration

Reg S Only

benchmark

BTP

ranking

Sr. Unsecured

moody's

Baa3

s&p

fitch

size description

re-open/tap

ipt

ipt-pxd

guidance

BTP+200 a

spread

195

coupon

5.25%

spread set

price

99.88400

yield

5.293%

book size (m)

300

peak book (m)

x-covered

0.86

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

book size (m)

300

peak book (m)

x-covered

0.86

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

Tranche Comments

3 yr: Book size: 300; Registration: Reg S Only; Comments: EUR350m 3yr snr unsec social RegS. Baa3. GloCos GS(B&D)/Santan(Struc/Logs), JB Akros. Guidance BTP (1.2% 8/25)+200 area (~MS+225a) for exp 300m 3yr, set BTP+195 (mid 94.450%) equiv. to MS+223.3 (3.060%). Books 300m+. DBR 1% Aug-25 +320.3bps (97.10%) HR:104%. Had calls in late Oct. Par Call: 3m. Cleanup Call: 80%. CoC: Yes. MWC: Yes. LEI: 81560087340FCB8D6D66;

Deal Comments

Social Bond

Use of Proceeds

Refinancing of debt and for general corporate purposes

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