Public disclosure required by Consob Resolution No. 11971 of May 14, 1999, as amended. One month after the successful placement of 600 million euros, the 2-billion-euro EMTN program continues. This issue, which has a seven-year maturity and a 5.125% annual interest coupon, was offered at 102.5, or more than 30 basis points less than the bonds issued this past December.
Milan, January 21, 2004 - Edison SpA (Baa3/BBB) today issued a second tranche, amounting to 100 million euros, of the 2010 bond issue approved by the Board of Directors on November 11, 2003. Bonds totaling 700 million euros have been issued thus far.
This new tranche, which was brought to market just one month after the placement of the first issue launched under a 2-billion-euro EMTN program, was underwritten with a spread that was more than 30 basis points lower than that of the previous reoffer price, resulting in a substantial reduction in Edison’s cost of money.
This transaction attests to the renewed confidence and growing favor with which investors are looking at the Company, at a particularly difficult time for the Italian capital markets.
A Meeting of the holders of 600,000,000 euros of the 6.375% Edison bonds maturing in 2007 was scheduled for today, on the second calling, for the purpose of amending the bond indenture. The Meeting could not vote on the motions on the Agenda because it lacked the required quorum of 50% of the outstanding bonds. The Company is reconvening the Meeting, on the third calling, for February 20, 2004 at 3:00 PM.
