(Alliance News) - Italgas Spa on Thursday successfully concluded the launch of a EUR650 million fixed-rate bond issue maturing in February 2029.

The issue registered orders for an amount equal to 6 times the offer, thus allowing the amount to be increased from the initial offer of EUR500 million, and was characterized by high quality and wide geographic diversification of investors.

The issuance was part of its EMTN (Euro Medium Term Notes) Program, renewed by board resolution last September, the total amount of which is EUR6.5 billion.

The bond has a term of 5 years with an annual coupon of 3.125 percent, and a spread of 83 basis points over the benchmark rate.

"The proceeds of the issuance will be used to meet the financial needs envisaged in the Strategic Plan 2023-2029," the company wrote in the released note.

By Maurizio Carta, Alliance News reporter

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