SUCCESSFULLY PLACED THE FIRST SUSTAINABILITY-LINKED BOND FOR 850 MILLION EUROS. INVESTOR DEMAND EXCEEDED THE OFFER BY 3 TIMES
Milan, 6 October 2025 – Infrastrutture Wireless Italiane S.p.A. (INWIT or the Company) (rated BB+ by S&P and BBB- by Fitch) announces the successful placement of its first sustainability-linked bond for a total amount of €850 million, with investor demand exceeding the offering by more than 3 times. The fixed-rate bonds, with a coupon of 3.625% and a 7-year maturity, are issued under INWIT’s Euro Medium Term Notes (EMTN) Programme and are intended for institutional investors (the “New Notes”).
The issuance attracted more than 170 high-quality institutional investors, both domestic and international, with total demand exceeding €2.75 billion.
The sustainability-linked bond is tied to the Company’s targets for reducing direct and indirect GHG emissions by 2030 (Scope 1, 2, and 3), as outlined in the Sustainability-Linked Financing Framework and aligned with the Sustainability Plan.
“The new bond issuance,” said Emilia Trudu, Chief Financial Officer of INWIT, “is part of our strategy to optimize debt maturities and maintain a solid financial structure, and confirms investors’ appreciation of INWIT’s creditworthiness. The issuance of our first sustainability-linked bond also demonstrates INWIT’s commitment to integrating sustainability objectives into its financial strategy to create long-term value.”
The New Notes will be listed on the regulated market of the Luxembourg Stock Exchange and on Borsa Italiana, with the following characteristics:
- Issuer: Infrastrutture Wireless Italiane S.p.A.
- Amount: Euro 850 million
- Settlement date: 13 October 2025
- Maturity: 13 October 2032
- Coupon: 3.625% payable annually in arrear.
- Issue price: 99.11%
- Yield: 3.772% corresponding to a yield of 125 basis points above the reference rate (mid swap)
The New Notes are being issued in conjunction with the cash buyback offer (the Tender Offer) announced by INWIT today 6 October 2025 addressed to the holders of its €1,000,000,000 1.875 per cent. Notes due 8 July 2026 (XS2200215213) (the Existing Notes).
Following the pricing of the New Notes, the Company announces that the Maximum Acceptance Amount in respect of the Tender Offer is set at €700,000,000 million (equal to the total principal amount outstanding of the Existing Notes), subject to the Company’s right, in its sole discretion, to accept the purchase of a lesser amount under the Tender Offer. The Tender Offer period will end on 10 October 2025.
Banca Akros, BBVA, BNP PARIBAS, BofA Securities, Credit Agricole CIB, IMI – Intesa Sanpaolo, Mediobanca – Banca di Credito Finanziario S.p.A., Morgan Stanley, SMBC and UniCredit Bank GmbH acted as Joint Lead Managers for the New Notes.
DISCLAIMER
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.