New Issue: Finmeccanica €440 million exchangeable into STM yields 0.375%, up 32.5%

Nashville, July 29 - Finmeccanica SpA sold €440 million of seven-year exchangeable bonds which convert into STMicroelectronics NV stock at par to yield 0.375% with a 32.5% initial conversion premium.

Merrill Lynch, Goldman Sachs and Mediobanca were joint lead managers of the deal, which sold at the midrange of price talk which put the yield at 0.25% to 0.75% with a 31% to 36% conversion premium.

Terms of the new deal are:

Issuer: Finmeccanica SpA

Issue:	Exchangeable bonds
Reference shares:	STMicroelectronics NV
Lead managers:		Merrill Lynch, Goldman Sachs and Mediobanca
Amount	€440 million
Maturity:	July 29, 2010
Coupon:	0.375%
Price:	Par
Redemption price:	Par
Yield:	0.375%
Conversion premium:	32.5%
Conversion price:	$25.069
Conversion ratio:	39.89
Call:	Non-callable for 3 years, then with a 125% trigger
Price talk:	0.25-0.75%, up 31-36%
Pricing date:	July 29
Settlement:	Aug. 5

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