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MarketScreener Homepage  >  Equities  >  Italian Stock Exchange  >  Inwit S.p.A.    INW   IT0005090300

INWIT S.P.A.

(INW)
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INWIT: new bond issue for 750 million euros. Investor demand 4 times supply.

10/13/2020 | 02:30pm EST

Rome, 13 October 2020 - INWIT has successfully concluded its second bond issue for a total amount of 750 million euro with market demand exceeding by four times the offer. The 8-year fixed rate bond with a coupon of 1.625% was issued as part of INWIT's Euro Medium Term Notes Programme (EMTN) and is intended for institutional investors.

'The successful issue of the new Bond, stated Giovanni Ferigo, CEO of INWIT, once again demonstrates the market's trust in our company. The excellent quality and high number of orders allow us to extend the duration of our debt and to optimise the cost and represent new recognition of the solidity of our business and industrial design in accelerating the country's digitisation process.'

The placement falls within the refinancing of part of the bank debt and was supported by a pool of leading banks, comprising BNP Paribas, Crédit Agricole CIB, HSBC, Mediobanca and Unicredit as Joint Bookrunners, and by Banca Akros, Banca IMI, BBVA, BofA Securities, and SMBC Nikko as other Bookrunners.

More than 300 national and international investors have shown an interest in the issue, which led to a total demand for over 3 billion euros.

The securities will be listed on the regulated market of the Luxembourg Stock Exchange, with the following characteristics:

  • Issuer: Infrastrutture Wireless Italiane S.p.A.
  • Amount: Euro 750 million
  • Settlement date: 21 October 2020
  • Maturity: 21 October 2028
  • Coupon: 1.625%
  • Issue price: 99.755
  • Actual yield: 1.658% corresponds to a yield of 200 basis points above the reference rate (mid swap).

INWIT issued its inaugural Bond last July for 1 billion euros, maturing in 6 years, coupon of 1.875% and return of 1.909%. The company is ranked as Investment Grade BBB- with a stable outlook by Fitch Ratings, and BB+ with a stable outlook by Standard and Poor's.

Disclaimer

INWIT - Infrastrutture Wireless Italiane S.p.A. published this content on 13 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 October 2020 18:29:09 UTC


© Publicnow 2020
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Sales 2020 676 M 822 M 822 M
Net income 2020 163 M 199 M 199 M
Net Debt 2020 3 638 M 4 427 M 4 427 M
P/E ratio 2020 53,6x
Yield 2020 3,24%
Capitalization 8 968 M 10 916 M 10 913 M
EV / Sales 2020 18,7x
EV / Sales 2021 16,2x
Nbr of Employees 198
Free-Float 33,7%
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Inwit S.p.A. Technical Analysis Chart | INW | IT0005090300 | MarketScreener
Technical analysis trends INWIT S.P.A.
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 19
Average target price 11,98 €
Last Close Price 9,34 €
Spread / Highest target 45,6%
Spread / Average Target 28,2%
Spread / Lowest Target 8,14%
EPS Revisions
Managers and Directors
NameTitle
Giovanni Ferigo Chief Executive Officer, GM & Director
Emanuele Tournon Chairman
Elisa Patrizi Head-Maintenance, Technology & Operations
Emanuela Martinelli Head-Finance & Investor Relations
Filomena Passeggio Independent Director
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