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Allen & Overy advises on EUR850 million bond by Terna

Terna S.p.A. has completed the placement of a senior unsercured bond for a nominal value of EUR850 million, a duration of seven years and maturity on 17 January 2031. Allen & Overy has advised the joint managers – Banca Akros, BNP Paribas, CaixaBank, Citi, Crédit Agricole CIB, IMI – Intesa Sanpaolo, Morgan Stanley, SMBC and UniCredit Bank GmbH.

The bond will pay a fixed annual coupon of 3.50% and was admitted to listing on the Luxembourg Stock Exchange. The bond was issued in the context of Terna EUR9 billion Euro Medium Term Notes Programme.

The Allen & Overy team was led by counsel Alessandra Pala, with partners and co-heads of International Capital Markets department Cristiano Tommasi and Craig Byrne, supported by trainee Paolo Martellone. Counsel Elia Ferdinando Clarizia advised on tax aspects.