Press Release

Not for publication, distribution, directly or indirectly, in the United States of America, Canada, Australia or Japan

Acea S.p.A (the “Company”), following the resolution of the Board of Directors of 22 January 2020 and the completion of the bookbuilding process, today successfully completed the placement of a non-convertible bond for a total principal amount of Euro 500 million, maturing on 6 April 2029 and at a rate of 0.50%, under its Euro 4,000,000,000 Euro Medium Term Note (EMTN) Programme, pursuant to the Base Prospectus dated 15 July 2019 and subsequently supplemented on 27 January 2020 (the "Notes").

The Notes were placed solely with institutional investors. The issue of Notes was very well received, with a request for approximately 3 times the amount of Notes offered, from high quality investors and with broad geographical diversification.

The Notes have with a minimum denomination of €100,000 and were placed at an issue price of 99.20 %, with a yield of 0.59%.The Notes are governed by English law. The settlement date is 6 February 2020. As of that date, the bonds will be traded on the regulated market of the Luxembourg Stock Exchange, where the relevant prospectus for the EMTN Programme has been filed.

The proceeds of the Notes will be used to finance ordinary business activities of the Company, as well as to support the investments provided for in the business plan for the three-year period 2020-2022.

The placement was carried out by Banca IMI S.p.A., Barclays Bank PLC, BNP Paribas, Crédit Agricole CIB, Deutsche Bank, Mediobanca – Banca di Credito Finanziario S.p.A., Morgan Stanley & Co International PLC, Société Générale, UniCredit Bank AG (B&D) e UBI Banca S.p.A. acting as Joint Bookrunners.

Acea’s counsel was the legal firm of White & Case and, in connection with tax matters, Foglia & Partners, while the Joint Bookrunners’ counsel was the legal firm of Clifford Chance.

It is foreseen that Fitch Ratings and Moody’s Investors Service will rate the Notes BBB+ and Baa2.


This press 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.


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