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A&O Shearman advises on Italgas S.p.A.’s new EUR1 billion dual-tranche issue

A&O Shearman advises on Italgas S.p.A.’s new EUR1 billion dual-tranche issue
Published Date
Mar 6 2025

Italgas S.p.A. has completed the placement of a five and nine-year “dual-tranche” fixed-rate bond issue for a total amount of EUR1bn, under the Euro Medium Term Notes programme. In the transaction, A&O Shearman assisted the pool of financial institutions Joint Bookrunners Banca Akros, BofA Securities, Citi, J.P. Morgan, Morgan Stanley and Société Générale.

The issue consists of a tranche of EUR500 million maturing in 2030, with a fixed annual coupon of 2.875% and a second tranche of EUR500m maturing in 2034, with a fixed annual coupon of 3.500%.

The bonds are governed by English law and are listed on the regulated market managed by the Luxembourg Stock Exchange.

The A&O Shearman team was led by partner Cristiano Tommasi, supported by senior associates Sarah Capella and Elisabetta Rapisarda and trainee Lisa Avitabile. Counsel Elia Ferdinando Clarizia assisted on tax-related aspects.

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