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Prospect News home > News index > List of issuers Tenders > Headlines for 2017 > News item |
Italys 2i Rete Gas buys 1.75% notes at 104.329 in capped tender offer
By Susanna Moon
Chicago, Jan. 18 2i Rete Gas SpA said investors had tendered 348,887,000 of its 750 million 1.75% notes due July 16, 2019 in the capped offer for two series of notes that began Jan. 10.
2i Rete will accept tenders for 225,001,000 of the 1.75% notes using a proration factor of 67.4667%, according to the results announced Wednesday.
The purchase price was set at 104.329% using a purchase yield of 0% with accrued interest of 0.921%.
Pricing was set at 5 a.m. ET on Wednesday, and settlement is expected to follow on Jan. 24.
The company was tendering for up to 225 million of its 1.75% notes and its 540 million 1.125% notes due Jan. 2, 2020, according to the company announcement.
Because the offer was oversubscribed, none of the tendered 1.125% notes will be accepted for purchase.
The structuring advisors and dealer managers are Merrill Lynch International (+44 20 7996 5420 or DG.LM_EMEA@baml.com) and Societe Generale (+44 20 7676 7680 or liability.management@sgcib.com).
The tender agent is Lucid Issuer Services Ltd. (+44 20 7704 0880 or 2iretegas@lucid-is.com).
2i Rete distributes natural gas in Italy and is based in Milan.
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