Finmeccanica successfully tap the Eurobond market with a EUR 250 million offering

Finmeccanica successfully tap the Eurobond market with a EUR 250 million offering

Today Finmeccanica, through its wholly owned subsidiary Finmeccanica Finance S.A., successfully tapped the Eurobond market with a EUR 250 million bond issue, incremental of the EUR 700 million issue made in November 2013. The offering, targeting exclusively Italian and international institutional investors, has the same terms of the November 2013 issue, i.e. a long 7-year life, maturity January 2021 and fixed-rate coupon of 4.50%. The issue price was 99.564%, higher than that of the November 2013 issue. Coupons are paid annually in arrears. The notes are fully guaranteed by Finmeccanica S.p.A. and will be listed on the Luxemburg Stock Exchange.

 

Finmeccanica benefitted from the current  favourable Eurobond market conditions. The net proceeds of the issue will be used in addition to the other financial sources of the Group. The Group debt average life will remain at over 9 years.

 

The initial amount offered was more than 4 times oversubscribed, confirming the market interest for Finmeccanica. The book included top European institutional investors, representing a breadth of countries.

 

Finmeccanica’s credit rating is Ba1 for Moody’s (Negative Outlook), BB+ for Standard&Poor’s (Stable Outlook) and BB+ for Fitch (Negative Outlook).

 

The transaction was managed by Banca Intesa, Bank of America Merrill Lynch, Barclays, BBVA, BNP Paribas, Citi, Commerzbank, Crédit Agricole, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JP Morgan, Morgan Stanley, RBS, Santander, Société Générale and Unicredit.

Rome 17/01/2014 18:37