TIM announces that the Shareholders’ Meeting of TIM Brasil Serviços e Participações S.A., the holding company fully owned by the Group which in turns holds 66,58% of TIM S.A., has deliberated to increase the total amount of the non-convertible bond for institutional investors approved on 12 July by 750 million reais.
As a result of this increase, the bond will have a maximum equivalent-value of 5 billion reais, equivalent to approximately 950 million euro at the current exchange rate.
The bond issue, aimed at distributing dividends from TIM Brasil Serviços e Participações S.A. to its parent companies, is part of the Group’s refinancing activities.
Rome, 26 July 2023
