The Group will repurchase in cash a portion of two bonds for an expected total nominal amount of 600 million euros
After successfully closing the issue on the European market of a 750 million euro fixed-rate senior unsecured bond offered to institutional investors on 12 July, TIM has also completed the buyback offers on the following bond issues:
– “EUR 750,000,000 3.625 per cent Fixed Rate Notes due 19 January 2024” (ISIN: XS1347748607)
– “EUR 1,250,000,000 4.000 per cent Fixed Rate Notes due 11 April 2024” (ISIN: XS1935256369)
The company will repurchase a portion of the two bonds in cash settlement date, scheduled for tomorrow. The total nominal amount to be repurchased is approximately 600 million euro. Once repurchased, the loans will be cancelled.
The table below illustrates the loans subject to repurchase, the amount accepted for purchase by TIM, the purchase price of the loans and the total principal amount of the loans that will remain outstanding.
The terms and conditions of the offers are fully described in the tender offer memorandum made available to bondholders.