Snam makes swift return for €1bn after debut tightens

Snam, the Italian gas transmission company that made its bond market debut last week after being spun off from Eni, issued a second bond today, completing what some had expected to be a two-tranche start to its bond funding campaign.

  • 12 Jul 2012

The company, rated Baa1/A-, begins life with €11bn of loans and wants to refinance about €6bn of this in the bond market.

Funding conditions for Italian borrowers have not been the easiest in recent months, but after an extensive roadshow and discussions with investors, Snam issued a successful four ...

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