INWIT: positive outcome of the notes Buyback
THIS ANNOUNCEMENT IS NOT INTENDED FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES OF AMERICA, ITS TERRITORIES OR POSSESSIONS, ANY STATE OF THE UNITED STATES OF AMERICA AND THE DISTRICT OF COLUMBIA OR TO ANY PERSON LOCATED OR RESIDENT IN ANY OTHER JURISDICTION WHERE THE RELEASE, PUBLICATION OR DISTRIBUTION OF THIS ANNOUNCEMENT IS UNLAWFUL PURSUANT TO APPLICABLE LAW OR REGULATION
Nominal amount of notes due 2026 accepted for repurchase of euro 300 million
Milan, 2 April 2025 – Infrastrutture Wireless Italiane S.p.A. (INWIT or the Company) (rated BB+ by S&P and BBB- by Fitch), after having successfully concluded a new bond issue for a total amount of euro 750 million, announces the results of the tender offer (the Tender Offer), launched on 24 March 2025 and ended on 31 March 2025, aimed at repurchasing in cash, and subsequently cancelling, part of its €1,000,000,000 1.875 per cent. Notes due 8 July 2026 (XS2200215213) (the Notes) (see press release dated March 24, 2025).
Upon expiry of the terms of the Tender Offer, the amount accepted by INWIT for the repurchase of the Notes is equal to euro 300 million, that is 30% of the nominal amount.
The settlement of the transaction is scheduled for 3 April 2025. Following settlement, the nominal amount of the Notes that will remain outstanding will be equal to euro 700 million.
The terms and conditions of the Tender Offer are fully described in the transaction documents made available to the holders of the Notes tendered.
DISCLAIMER
This press release should be read in conjunction with the tender offer memorandum dated 24 March 2025 (Tender Offer Memorandum). This press release and the Tender Offer Memorandum contain important information that should be read carefully before making any decision to adhere to the Tender Offer. Any investor who is in any doubt as to the contents of this release or the Tender Offer Memorandum or in relation to the decisions to be taken is urged to seek financial or legal advice, including as to any tax consequences, from his or her stock-broker, bank manager, solicitor, accountant or other independent financial or legal advisor. Each natural or legal person whose securities are deposited with a financial intermediary, bank, custodian, trust or any other third party or intermediary must contact such person if it intends to participate in the Tender Offer. Neither the Company, the Dealer Managers nor the Tender Agent (each as defined in the Tender Offer Memorandum) make any recommendation to the holders of the Securities in this respect.
Neither this press release nor the Tender Offer Memorandum constitute an invitation to participate in the Tender Offer in any jurisdiction in which, or to any person to or from whom, making or entering into, such offer is unlawful under applicable securities laws and regulations and the distribution of such documents in certain jurisdictions may be restricted by statutory and regulatory provisions. Persons who come into possession of this announcement and the Tender Offer Memorandum are required by each of the Issuer, the Dealer Managers and the Tender Agent to inform themselves as to, and to observe, each such restriction.
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 Tender Offer has not been/will not be submitted to the approval of CONSOB. The Tender Offer is being carried out in the Republic of Italy as an exempted offer pursuant to article 101-bis, paragraph 3-bis, of Legislative Decree no. 58 of February 24, 1998, as amended (the “Financial Services Act”) and article 35-bis, paragraph 4 of CONSOB Regulation No. 11971 of 14 May 1999.