The board of directors of Italy’s biggest gas distributor, Italgas, at a meeting on Monday approved the renewal of the EMTN programme and a new bond issue, Italgas stated.
The Italgas board approved the EMTN Programme maximum amount up to 3.5 billion euros and the issue, by 31 October, of one or more bonds to be placed with institutional investors, the company said.
The total amount of the bonds issued may not exceed 3.5 billion euros and they may be listed on one or more regulated markets, Italgas said.
A total 2.65 billion euros of bonds have so far been issued under the EMTN Programme, the company stated.
The EMTN Programme, launched in 2016, is "an effective tool to secure funding on the bond market in order to support Italgas's growth diversifying funding sources at competitive costs," the company said.
