Debt Capital Markets
Inwit S.p.A. launches a new bond issue of €750 million at 1.625% expiring in October 2028
Banca Akros acted as Bookrunner
Last 13 October, Inwit – Infrastrutture Wireless Italiane S.p.A. successfully concluded its second bond issue of the year.
- The transaction, with a nominal value of €750 million, has a fixed rate, is unsubordinated and unsecured, expires on 21 October 2028 (bullet), pays an annual coupon of 1.625% and has an issue price of 99.755%, corresponding to a spread of 200 bps above the mid-swap rate. The effective yield is 1.658%. The securities will be listed on the Luxembourg Stock Exchange.
- The Company is rated Investment Grade BBB- with stable outlook by Fitch and BB+ with stable outlook by Standard & Poor’s.
- The bond, which is restricted to professional investors and eligible counterparties, collected total orders of more than €3 billion, 4 times the amount offered, from more than 300 domestic and international investors. The positive feedback received enabled the transaction’s yield to be reduced by 40 basis points from the initial guidance (from 240 to 200 bps).
- The income from the issue will be used for the partial refinancing of an outstanding facility with the Bookrunners and related companies in their respective groups.
- Banca Akros acted as Bookrunner.
- This is the ninth bond issue for Banca Akros in which it has acted as leading bank during 2020.
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