Press Release

Not For Publication, Distribution, Directly Or Indirectly, In The United States Of America, Canada, Australia Or Japan.
Press Release
Acea Spa: successful closing of the 10-Year Bond issue for €600 Million as part of EMTN programme. Applications exceed €2 billion

Rome, 8 July 2014 – Acea SpA announces that it has today successfully completed a €600m placement of 10-year fixed rate bonds, as part of the Company’s €1.5bn Euro Medium Term Notes (EMTN) programme approved by the Board of Directors on 10 March 2014, Banca IMI, BNP Paribas and UniCredit Bank are co-arrangers. The purpose of the issue is to refinance certain bonds and loans nearing maturity, as part of efforts to cut borrowing costs and lengthen the average duration of debt.

The bonds were placed solely with institutional investors on the Euromarket.

The bonds, with a minimum denomination of €100,000 and maturing on 15 July 2024, pay a gross annual rate of interest of 2.625% and were placed at an issue price of 99.195%. The gross effective yield to maturity is 2.718%, providing a return of 128 basis points over the ten-year swap rate. The bonds are governed by English law. The settlement date is 15 July 2014. As of that date, the bonds will be traded on the regulated market in Luxembourg, where the relevant prospectus has been filed.

The placement was carried out by Banca IMI, BNP Paribas, Crédit Agricole Corporate and Investment Bank, Mediobanca and UniCredit Bank acting as Joint Lead Managers.

Acea’s counsel was the legal firm of Chiomenti while the Joint Leader Managers’ counsel was the legal firm of Clifford Chance.

Standard & Poor’s, Fitch Ratings and Moody’s are expected to rate the issue BBB-, BBB+ and Baa2 respectively, all with ‘‘Stable’’ outlook.

This release does not constitute an offer to sell bonds in the United States of America. The securities have not been and will not be registered under the U.S. Securities Act of 1933 as amended (the “Securities Act”) or under any other securities laws of any state of the United States of America or in Australia, Canada or Japan, or in any other jurisdiction in which such offer or solicitation is subject to the approval of the local authorities or would, in any event, constitute a violation of the relevant laws.

The securities may not be offered or sold in the United States of America to, or on behalf of or for the benefit of a U.S. person (a "U.S. person", as defined in Regulation S of the Securities Act), unless they are registered under the Securities Act or an exemption under the Securities Act is available.

This release does not constitute a public offering of financial instruments in Italy, as defined by art. 1, paragraph 1, letter t) of Legislative Decree 58 of 24 February 1998.

This release does not constitute an offer to sell or a solicitation to purchase financial instruments. No actions have been or will be taken to allow a public offering of the bonds in any jurisdiction, including Italy. This release (and the information contained herein) may not be published or distributed, directly or indirectly, in the United States of America, or in Australia, Canada or Japan.
Acea SpA