The Securities referred to in this press release have not been and will not be registered under the US Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.
Telecom Italia successfully completed a Euro 1 billion fixed rate bond issue offered to institutional investors.
The wide range of investors participating in the transaction confirms the market positive attitude towards Telecom Italia’s credit.
The proceeds of this issue will be used to refinance maturing debt.
Details are:
Issuer: Telecom Italia S.p.A.
Amount: Euro 1 billion
Settlement date: 25 January 2011
Maturity: 25 January 2016
Coupon: 5.125%
Issue price: 99.686%
Redemption price: 100%
The effective yield to maturity is 5.198% per year, which corresponds to a yield of 250 basis points above the reference rate (mid – swap).
The notes will be issued under the Group’s Euro 20 billion EMTN Programme and will be listed on the Luxembourg Stock Exchange.
Milan, 18 January 2011
