Saipem: issuance of fixed rate non-convertible bondFinancialSan Donato Milanese
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San Donato Milanese (Milan), March 29, 2017 – Today Saipem successfully launched a fixed rate bond issue with 5–year tenor for a total amount of €500 million. The notes are issued by Saipem Finance International B.V. under the Euro Medium Term Notes Programme (EMTN Programme).
The 5-year bond pays a fixed annual coupon of 2.75%. The re-offer price is 100.0%.
The notes will be listed on the Euro MTF of the Luxembourg Stock Exchange and have been purchased by institutional investors mainly in Italy, the UK, France, Germany, and Switzerland.
The proceeds of the bond will be used to partially pre-pay the term loan facility of €1.6 billion.
Saipem is one of the world leaders in drilling services, as well as in the engineering, procurement, construction and installation of pipelines and complex projects, onshore and offshore, in the oil & gas market. The company has distinctive competences in operations in harsh environments, remote areas and deepwater. Saipem provides a full range of services with “EPC” and “EPCI” contracts (on a “turn-key” basis) and has distinctive capabilities and unique assets with a high technological content.
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