Press Release

Not for release, publication or distribution, directly or indirectly, in the United States of America (or for the account or benefit of "U.S. persons" as defined in Regulation S under the U.S. Securities Act of 1933), Canada, Australia or Japan or in any other jurisdiction where to do so would be unlawful

Yield of 3.820% among lowest since beginning of year for similar transactions

Acea SpA (the “Company”) announces that it has successfully completed the tap issue of €200m of green bonds launched on 17 January 2023 (coupon interest of 3.875% and maturing on 24 January 2031).

The tap issue was approximately 1.5 times oversubscribed.
The bonds, having a minimum denomination of €100,000 and paying coupon interest of 3.875%, were placed at an issue price of 100.368%, implying a yield of 3.820% or 105 basis points above the mid-swap rate, marking a further improvement on the already favourable terms of the original issue.
The timing of the tap issue meant that it benefitted from the previous day’s fall in interest rates and the excellent performance of the original green bonds on the secondary market.
Fabrizio Palermo, Acea’s Chief Executive Officer, said: ”We are very pleased with the overall result of the green bond issue, with the spread over the mid-swap rate enabling us to achieve a yield that is among the lowest since the beginning of the year for similar transactions. This excellent result was also achieved thanks to our constant monitoring of market conditions and effective management of the activities preceding the launch of the transaction.”
The settlement date is 10 February 2023. As of that date, the Bonds will be listed on the Luxembourg Stock Exchange’s regulated market.
The proceeds from the issue will be used to finance specific sustainability projects. These include projects relating to resilience of the electricity distribution system, energy efficiency, e-mobility, development of the circular economy, increased production of renewable energy and the protection of water resources.
The Bonds were placed exclusively with Euromarket institutional investors.
The transaction was managed by Bank of America, Goldman Sachs, Intesa SanPaolo IMI, JP Morgan and UniCredit.
Fitch Ratings and Moody’s Investors Service are expected to assign the tap issue ratings of BBB+ and Baa2, respectively.

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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, be unlawful.

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.

In Member States of the European Economic Area (the “EEA”), this release is only intended for and may only be addressed to persons classified as “qualified investors” (the "Qualified Investors") pursuant to article 2(e) of Regulation (EU) 2017/1129.

This release does not constitute an offer to sell or a solicitation to purchase financial instruments. No action has 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, or in any other country in which such publication or distribution would be subject to the approval of the local authorities or would, in any event, be unlawful.

MiFID II professionals/ECPs-only / No PRIIPs KID – Manufacturer target market (MIFID II product governance) is eligible counterparties and professional clients only (all distribution channels). No PRIIPs key information document (KID) pursuant to Regulation (EU) 1286/2014 (the “PRIIPS Regulation”) has been prepared as the offer is not addressed to retail investors.