Alitalia – SAI SpA will issue a senior unsecured bond for a total nominal amount of 375 million euros. The bond, not subject to rating, will be fully underwritten by Morgan Stanley in its role as Sole Underwriter. The bond will be issued with notes denomination of € 100,000, a term of five years and a fixed annual coupon of 5.25%.
The issue date of the bond has been set for 30 July 2015. On or about the issue date, the bond are intended to be listed on the Official List of the Irish Stock Exchange.
This is the first issue of a bond in the capital market since Alitalia SAI commenced operations on 1 January 2015. It provides greater financial flexibility and effective alternative sources of financing to support the development projects of the company.
The placement is intended for qualified institutional investors.
CEO of Alitalia, Silvano Cassano, said: „This issue is an important sign of the confidence of the financial markets. It also demonstrates the credibility of our project at a time when Alitalia is engaged in an ambitious turnaround plan which covers fleet renewal, the development of new intercontinental routes, the renewal of the technological infrastructure and new plans for staff training.”