Snam Launches Placement of Green Convertible Bond into Italgas Shares
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Snam Spa has launched a placement for green convertible bonds worth EUR500 million, maturing in 2031, which can be converted into Italgas shares. The bonds will pay a fixed annual coupon of 1.50% to 2.00% and will be used to finance eligible projects. Additionally, Snam plans to repurchase up to EUR499.8 million of its existing 2028 bonds as part of this initiative. The repurchase price will be set between EUR176,550 and EUR176,800 per EUR100,000 of bond principal, subject to share price adjustments.
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