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: One billion euro floating rate notes issue successfully completed

11/29/2005 - 12:00 PM

Orders exceeded two billion euro

With this operation, Telecom Italia, having already covered debt maturing up to 2006, begins the refinancing process of debt maturing in 2007

The new issue is aimed at the early redemption of floating rate notes maturing in October 2007

Telecom Italia today successfully completed the launch of a 7-year, floating rate notes issue worth one billion euro.

Telecom Italia intends to use the proceeds of this issue for the early redemption of the floating rate notes issue maturing on 29 October 2007 and denominated “TELECOM ITALIA S.p.A Euro 1,000,000,000 Floating Rate Notes due  2007”, listed in Luxembourg and in Italy, thus exercising the Issuer Call provided for in the  terms of the notes. The first early redemption  date isin January 2006.

Having already covered debt maturing up to 2006, this operation will allow Telecom Italia to start the refinancing of debt maturing in 2007 without increasing the total amount of outstanding securities.

The features of the notes are as follows:

Issuer: Telecom Italia S.p.A.
Amount: 1,000 million euro
Issue date: 6 December 2005
Maturity: 6 December 2012
Coupon: 3M EURIBOR +0.53%
Issue price: 100%
Redemption price: 100%
Issuer Call: starting from 5 years from issue date, upon any coupon payment date thereafter.

The new issue is part of Telecom Italia’s Euro 10 billion Euro Medium Term Note (EMTN) programme, and will be listed on the Luxembourg Stock Exchange.

The transaction was arranged by Caboto, Lehman Brothers, MCC - Capitalia Gruppo Bancario and UBM as Bookrunners, and Banca Akros - Gruppo Bipiemme and MPS Finance as Co-Managers.


Milan, 29 November 2005