SAIPEM: THE BOARD OF DIRECTORS APPROVES RENEWAL OF EMTN PROGRAM
San Donato Milanese (Milan), July 17, 2018 – The Board of Directors of Saipem S.p.A. (the “Company”) approved today the renewal for one year of the programme for the issuance of non-convertible notes, the Euro Medium Term Notes Programme (the “EMTN Programme”), established with a resolution taken on April 27, 2016 for a maximum aggregate amount of Euro 2,000 million and subsequently renewed for one year and increased for a maximum aggregate amount of Euro 3,000 million with a resolution taken on June 27, 2017. The maximum aggregate amount of the EMTN Programme (Euro 3,000 million, of which Euro 2,000 million already issued) has remained unchanged.
The renewal of the EMTN Programme will allow the Company to benefit from the flexibility of such instrument in the event of future bond issues.
The Board of Directors reserved the right to approve any future issuance of notes under the EMTN Programme in compliance with art. 2410 of the Italian Civil Code, as well as their relevant terms, conditions, duration and any other action necessary for their issuance and listing.
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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