Italgas SpA (IGIM)

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C/P	Industry	Status	Ticker(s)	Issuer(s)	Size(m)		Tranches	Region	Date
IGC	UTIL	PRCD	IGIM	Italgas SpA	€350		1	EMEA	Sep 24, 2024

Tranche #1Italgas SpA

currency

EUR

size (m)

350.000

maturity

Feb 8, 2029

type

Fixed

tenor

5.000

call

registration

Reg S Only

benchmark

Swaps

ranking

Sr. Unsecured

moody's

Baa2

s&p

fitch

BBB+

size description

re-open/tap

Yes

ipt

MS+115 a

ipt-pxd

guidance

MS+100 a

spread

coupon

3.125%

spread set

price

99.68300

yield

3.201%

book size (m)

575

peak book (m)

x-covered

1.64

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

book size (m)

575

peak book (m)

x-covered

1.64

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

Tranche Comments

5 yr: Book size: 575; Registration: Reg S Only; Comments: EUR350m (upsized from EUR250m) tap of EUR650m 3.125% 5yr bmk snr unsec RegS. Baa2/NR/BBB+. Akros/BNPP/BofA/Citi/JPM(B&D)/MS/SG. IPTs MS+115 area, guidance MS+100 area (+/-5 WPIR), launch 350m at MS+95. HR100% vs DBR 0.25% Feb 2029 (Px 93.20 / B+132.2). Bks 575m+ (peak 750m+). FTT 3:40pm. New Total: 1bn. Par Call: 1m. Cleanup Call: 80%. MWC: B+20bp. LEI: 815600F25FF44EF1FA76;

Deal Comments

EUR350m tap of 3.125% due 2/8/2029

Use of Proceeds

Refinancing of existing indebtedness

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