Board of Directors approves bond issue up to €800 Million
Issuance and placement, public or private, of bonds, in one or more tranches
Milan, 10 March 2015. At a meeting today, the Board of Directors of Prysmian S.p.A. authorised management – depending on prevailing market conditions and by 30 June 2016, also through several transactions – to proceed with the issuance and placement (public or private) of bonds, in one or more tranches (the "Bonds"). The Bonds will be offered for sale only to institutional investors and will be listed on one or more regulated markets or multilateral trading facilities. The issuance of the Bonds is intended to diversify Prysmian S.p.A.'s funding sources and to extend the average maturity of its debt. The Board of Directors approved the issuance of the Bonds for a maximum nominal amount of up to €800 million; the maximum duration will be 7 years. The final terms of the transactions will be fixed at the time of pricing, based on market conditions, and will be announced once decided.
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This press release does not constitute an offer to sell the Bonds in the United States of America. The securities have not been and will not be registered in the United States under the United States Securities Act of 1933, as amended (the "Securities Act") or under any other law or financial regulation in any of the United States of America, Australia, Canada or Japan or any other country in which such offer or solicitation is subject to approval by local authorities or otherwise prohibited by law. The securities may not be offered or sold in the United States to, or for the account or benefit of, a US person ("US person", as defined in Regulation S of the Securities Act) unless they are registered under the Securities Act or pursuant to an exemption applicable under the Securities Act.
This press release is not an offer to sell nor a solicitation to invest in financial products. The Bonds will also not be sold in any state or jurisdiction in which such offer or sale would be unlawful. No action has been or will be taken to permit a public offering of the Bonds in any jurisdiction, including Italy.