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4-Traders Homepage  >  Equities  >  Italian Stock Exchange  >  Telecom Italia    TIT   IT0003497168

TELECOM ITALIA (TIT)
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OFFRE ETE Zonebourse : Jusqu'à 6 mois offerts sur tous les portefeuilles

TIM: €1.25 billion 10-year bond issue

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10/05/2017 | 08:05pm CEST

The Securities referred to in this press release 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 shall not constitute an offer to sell nor a solicitation of an offer to buy these securities.

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TIM has successfully launched the issue of a €1.25 billion fixed-rate bond offered to institutional investors.

The great quality and amount of the orders received once again confirms the market's positive attitude towards TIM's credit, allowing the company to price the issue with a yield lower than initial guidance, for a 2.375% coupon, being the lowest amongst the non-convertible Euro bonds issued by the Group.

The yield of the bond, equal to 2.468%, is largely below the Group's average cost of debt (5% at the end of June 2017).

The proceeds of the new issue will be used to optimize and refinance forthcoming debt maturities.

Details are:

Issuer: Telecom Italia S.p.A.
Amount: Euro 1.25 billion
Settlement date: 12 October 2017
Maturity: 12 October 2027
Coupon: 2.375%
Issue price: 99.185%
Redemption price: 100.000%

The actual yield to maturity of 2.468%, corresponds to a yield of 157 basis points above the reference rate (mid swap).

The notes will be issued under the Group's Euro 20 billion EMTN programme and will be listed on the Luxembourg Stock Exchange.

Milan, 5 October 2017

Telecom Italia S.p.A. published this content on 05 October 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 05 October 2017 18:04:05 UTC.

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Financials (€)
Sales 2018 19 503 M
EBIT 2018 4 073 M
Net income 2018 1 559 M
Debt 2018 25 297 M
Yield 2018 0,91%
P/E ratio 2018 9,50
P/E ratio 2019 8,70
EV / Sales 2018 2,00x
EV / Sales 2019 1,93x
Capitalization 13 705 M
Chart TELECOM ITALIA
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Technical analysis trends TELECOM ITALIA
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 25
Average target price 0,96 €
Spread / Average Target 40%
EPS Revisions
Managers
NameTitle
Amos Genish CEO, Director & Chief Technology Officer
Fulvio Conti Chairman
Piergiorgio Peluso CFO, Head-Administration, Finance & Control
Roberto Mazzilli Head-Information Technology & Security Compliance
Lucia Calvosa Independent Director
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