On November 22, 2021, Compagnia Valdostana delle Acque - Compagnie Valdôtaine des Eaux S.p.A. (“CVA” or the “Issuer”) successfully issued its first senior unsecured bond (the “Notes”). The Notes were issued for an amount of Euro 50,000,000.00, with a 7-year maturity (22 November 2028) and an annual coupon of 1.119 %. The senior Notes are payable in full at maturity, except in those events as described in the terms and conditions of the Notes.
The Notes have been admitted to trading on the regulated market of Dublin Stock Exchange, Euronext. UniCredit Bank AG acted as Arranger and Sole Bookrunner for the placement of the Notes with institutional investors (with the exclusion of the United States of America). Both the Issuer and the Notes are rated Baa2 by Moody’s and BBB+ by Fitch. CVA was assisted by CORE Advisory as adviser to the Issuer and by Bonelli Erede as legal and tax counsel. Gianni & Origoni assisted UniCredit Bank AG in connection with the legal and tax aspects of the Notes issue.
The Chairman, Marco Cantamessa, declared: «With this first corporate bond issuance, CVA makes an important step towards the implementation of its 2021-2025 Strategic Plan. The Plan has the objective of guiding the CVA Group, in line with its distinctive strategy as an integrated and “renewable by nature” energy operator, towards a growth path consistent with the global theme of energy transition». The CEO, Giuseppe Argirò, declared: «The bond issuance represents a key step for the CVA Group: its debut on the financial markets. The success of the placement highlights the solidity of the Group, considering the significant challenges ahead in the context of the energy transition. This bond issuance will help to seize opportunities arising in the market in the coming years, improving the Group's overall diversification of financial sources».
This announcement is for information purposes only and it is not intended to be complete and/or exhaustive.
No reliance can therefore be place on its accuracy and completeness. Copies of this announcement are not being made and may not be distributed or sent, directly or indirectly, in or into the United States (including its territories, possessions, States and the District of Columbia), in the name and on behalf of the U.S. persons defined as “U.S. Persons” in the Securities Act, Australia, Canada, Japan or South Africa or any other jurisdiction in which such offer or solicitation is not permitted by the law (the "Other Countries").
This announcement does not constitute an offer to sell or the solicitation of an offer to buy or subscribe for any notes in the United States of America, Australia, Canada, Japan, South Africa or the Other Countries. The notes mentioned herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or under the corresponding laws of Australia, Canada, Japan, South Africa or the Other Countries, and may not be offered or sold in the United States of America or to "U.S. Persons" absent registration under the United States Securities Act and Exchange Commission except pursuant to an exemption from registration under the Securities Act.
The issuer does not intend to register, even partially, the offer of the notes subject to this announcement or to make a public offering of these notes in the United States of America, Australia, Canada, Japan, South Africa or in the Other Countries. In the Member States of the European Economic Area ("EEA"), this announcement is directed at, and may only be sent to, persons considered "qualified investors" within the meaning of Article 2(1)(e) of European Directive 2003/71/EC, as amended by European Directive 2010/73/EU (the "Prospectus Directive"), as implemented in the relevant jurisdiction (the "Qualified Investors").
This announcement is directed only at (i) Qualified Investors within the meaning of section 49(2)(a) to (d) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order"), or (ii) persons with professional experience in investment matters within the meaning of section 19(5) of the Order, or (iii) those to whom this announcement may otherwise be distributed in accordance with the law (all such persons referred to as "Relevant Persons"). Any investment or investment activity referred to in this announcement is intended to be in the sole interest of Relevant Persons and may only be undertaken with Relevant Persons or, within the European Economic Area, with "Qualified Investors". Persons who are not Relevant Persons, "Qualified Investors" or who are not authorised to have access to the information under applicable laws or regulations should not act on or rely on such information.