EXCHANGE OFFER ON CERTAIN SERIES OF TIM, TELECOM ITALIA FINANCE AND TELECOM ITALIA CAPITAL NOTES IN PREPARATION FOR NETCO DEAL
On April 18, 2024, each of TIM S.p.A (“TIM”), Telecom Italia Finance (“TIF”) and Telecom Italia Capital (“TICAP”), (together the “Issuers” and each, an “Issuer”) announced that it has commenced an invitation to holders to offer to exchange (the “EUR TIM Exchange Offers”, the “EUR TIF Exchange Offer” and the “USD Exchange Offers” respectively and, collectively, the “Exchange Offers” and each, an “Exchange Offer”) up to 5.0 billion euro in aggregate principal amount of their respective securities listed below (the “Original Notes”) for an equal aggregate principal amount of new securities listed below (the “New Notes”), as further described in the exchange offer memorandum with respect to the EUR TIM Exchange Offers (the “EUR TIM Exchange Offer Memorandum”), the exchange offer memorandum with respect to the EUR TIF Exchange Offer (the “EUR TIF Exchange Offer Memorandum”) and the exchange offer memorandum with respect to the USD Exchange Offers (the “USD Exchange Offer Memorandum” and, collectively, the “Exchange Offer Memoranda” and each, an “Exchange Offer Memorandum”).
Further information: Redacted version of Exchange Offer Memorandum
(*) In accordance with the contract signed, the Banks have committed to make the funds available on demand (with at least 3 days’ notice). As this is a “Committed” line, the banks have no mechanisms in place not to honor the request for funds made by the Company, without prejudice to the market standard early mandatory cancellation clauses (Natural contract expiry, Change in control, Borrower illegality, Events of default, each as defined in the contract).
On July 6, 2022, TIM stipulated a new loan with a pool of leading international banks, which benefits from the “Italy Guarantee” (in accordance with art. 1, subsection 1 of Decree-Law no. 23 of April 8, 2020 as subsequently amended and supplemented) for an amount of 2 billion euros, fully drawn down.
2019
EMTN (Euro Medium Term Note Programme) - 25 June 2019
First Supplement to the Base Prospectus of June 2019 - 18 September2019
Second Supplement to the Base Prospectus of June 2019 - 13 December 2019
Third Supplement to the Base Prospectus of June 2019 - 2 April 2020
2018
EMTN PROGRAMME PROSPECTUS - 8 June 2018
First Supplement to the Base Prospectus of 8 June 2018 - 5 October 2018
Second Supplement to the Base Prospectus of 8 June 2018 - 10 December 2018
Third Supplement to the Base Prospectus of 8 June 2018 - 4 January 2019
Fourth Supplement to the Base Prospectus of 8 June 2018 - 4 April 2019
