ACEA opens cash tender for up to €300 million of notes due 2018, 2020

By Wendy Van Sickle

Columbus, Ohio, Oct. 12 – ACEA SpA announced a cash tender offer for up to €300 million of its €600 million of 3.75% notes due Sept. 12, 2018 and its €500 million of 4.5% notes due March 16, 2020, according to a notice.

The issuer will set a purchase price by reference to a fixed purchase yield of negative 10 basis points for the 2018 notes and zero for the 2020 notes. Assuming a settlement date of Oct. 24, the purchase price for the 2018 notes will be 107.268, and the price for the 2020 notes will be 115.263.

The offer expires at noon ET on Oct. 18.

The issuer said it will be at its discretion what amount of each series of notes it will accept under the tender offer.

Barclays (+44 20 3134 8515 or eu.lm@barclays.com), BNP Paribas (+44 20 7595 8668 or liability.management@bnpparibas.com) and Deutsche Bank (+44 20754 58001 or liability.management@db.com) are the global coordinators and dealer managers. Banca IMI (+39 02 72 61 59 38 or liability.management@bancaimi.com) and Credit Agricole CIB (+44 207 214 5733 or liability.management@ca-cib.com) are also dealer managers.

Lucid Issuer Services Ltd. (Attn: David Shilson, +44 20 7704 0880 or acea@lucid-is.com) is the tender agent.

Based in Rome, the mulit-utility company manages and develops networks and services in the areas of water, energy and the environment.

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