We contribute to the sustainable development of the countries where we operate, with innovative network infrastructures and digital services, sharing our skills and know-how. Read more

Latest press releases

Read the latest press releases and search the archives of TIM Group's Press Office.

Telecom Italia: resounding success for the bond issue as it rises to 1.5 billion euros

12/07/2001 - 12:00 PM

Telecom Italia announces that the floating-rate bond issue for 1 billion euros, news of which was released on 4 December as part of the Group´s "Global Note Program", has been a resounding success. Keen interest in the issue has driven the figure up to 1.5 billion euros.

High levels of interest among institutional investors has at the same time made it possible to reduce the margin initially offered and fix it at an overall yield of 100 base points on Euribor. "Step-up" clauses have not been added to the dividend cheque.

The salient aspects of the issue are as follows:

Total amount of the Issue: Euro 1,500,000,000
Expected settlement date: 21/12/2001
Duration: 3.5 years
Variable dividend: Euribor 3M + 0.95%
Date of payment for the first dividend: 3 months after settlement
Redemption price: 100
Issue price: 99.837
Quotation: Luxembourg
Advance redemption: on the issuer´s authority and at par, after the first 24 months, every three months.

The total amount raised through the bond issue will be used to pay off the short-term debt of Telecom Italia SpA, without therefore altering the overall size of the Group´s indebtedness, while extending its average life.

Caboto - Gruppo IntesaBci, JPMorgan Securities Ltd, Schroder Salomon Smith Barney and UniCredit Banca Mobiliare acted as the lead managers and bookrunners for the operation.