The issue will take place via private placement
Milan, 31 May 2007 - Telecom Italia today successfully priced a floating-rate bond issue for a total value of 400 million Euro and with maturity in June 2016.
With this operation, Telecom Italia has taken advantage of favourable market conditions to re-finance maturing debt and reduce its average overall cost.
The terms set for the issue are as follows:
issuer: Telecom Italia S.p.A.
amount: 400 million euro
issue date: 7 June 2007
maturity: 7 June 2016
duration: 9 years
coupon: Euribor + 0.79% payable quarterly
issue price: 100.00%
effective yield at maturity: Euribor 3 month +0.79%
The operation which took the form of a private placement is part of Telecom Italia’s 15 billion euro Euro Medium Term Note (EMTN) programme.
The issue will be quoted on the Luxembourg stock exchange.
The securities referred to in this press release have not been and will not be registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.