INWIT is a partner of G7 Italy

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INWIT: new bond issue for 750 million euros. Investor demand 4 times supply.

Rome, 13 October 2020 – INWIT has successfully concluded its second bond issue for a total amount of 750 million euro with market demand exceeding by four times the offer. The 8-year fixed rate bond with a coupon of 1.625% was issued as part of INWIT’s Euro Medium Term Notes Programme (EMTN) and is intended for institutional investors.

The successful issue of the new Bond, stated Giovanni Ferigo, CEO of INWIT, once again demonstrates the market’s trust in our company. The excellent quality and high number of orders allow us to extend the duration of our debt and to optimise the cost and represent new recognition of the solidity of our business and industrial design in accelerating the country’s digitisation process.

The placement falls within the refinancing of part of the bank debt and was supported by a pool of leading banks, comprising BNP Paribas, Crédit Agricole CIB, HSBC, Mediobanca and Unicredit as Joint Bookrunners, and by Banca Akros, Banca IMI, BBVA, BofA Securities, and SMBC Nikko as other Bookrunners.

More than 300 national and international investors have shown an interest in the issue, which led to a total demand for over 3 billion euros.

The securities will be listed on the regulated market of the Luxembourg Stock Exchange, with the following characteristics:

  • Issuer: Infrastrutture Wireless Italiane S.p.A.
  • Amount: Euro 750 million
  • Settlement date: 21 October 2020
  • Maturity: 21 October 2028
  • Coupon: 1.625%
  • Issue price: 99.755
  • Actual yield: 1.658% corresponds to a yield of 200 basis points above the reference rate (mid swap).

INWIT issued its inaugural Bond last July for 1 billion euros, maturing in 6 years, coupon of 1.875% and return of 1.909%. The company is ranked as Investment Grade BBB- with a stable outlook by Fitch Ratings, and BB+ with a stable outlook by Standard and Poor’s.