: Saipem EUR 500mm (no-grow) 6yr - IPTs 3.750% area***
Issuer: Saipem Finance International B.V.
Guarantors: Saipem SpASaipem (Portugal) - Comércio Marítimo, Sociedade Unipessoal Lda.Saipem SASofresid SASaipem LimitedSaipem Offshore Norway ASSaipem Drilling Norway ASSaipem Contracting Netherlands B.V.Saipem Contracting Nigeria LimitedSaipem Luxembourg S.A.Global Petroprojects Services AGSnamprogretti Saudi Arabia Co LimitedSaudi Arabian Saipem Limited
Issuer Rating: Ba1 (negative) / BB+ (stable) by Moody’s / S&P
LEI: 724500V4QZAOY63SY989
Exp Issue Rating: Ba1 / BB+ by Moody’s / S&P
Format: Senior Unsecured Notes, Reg S, Bearer, New Global Note (TEFRA D rules apply, no communications with or into the US)
Size: €500m (no-grow)
Settlement: 15 July 2020 (T+6)
Maturity: 15 July 2026 (6 year)
IPTs: 3.750% area
Coupon: Fixed, Annual, Act/Act
Listing / Docs: Luxembourg Stock Exchange (Unregulated Market) / Saipem’s €3bn EMTN Programme dated 29 June 2020
Call options: 3m Par Call / Clean-Up Call (80%) / CoC / MWC / Guarantor Coverage Level
Guarantor Coverage Level: Revenues > 65% of Saipem GroupAssets > 70% of Saipem GroupEBITDA > 75% of Saipem Group
Governing Law: English Law
UoP: General Corporate Purposes
Denoms: €100k x €1k
Joint Global Coordinators: BNP Paribas, Citi, Goldman Sachs International
Passive Bookrunners: Banca IMI, Banco Santander, Barclays, HSBC, JP Morgan, Mediobanca, Morgan Stanley, UniCredit
Use of Proceeds: General Corporate Purposes
Target Market: Manufacturer target market (MIFID II product governance) is eligible counterparties and professional clients only (all distribution channels). No PRIIPs key information document (KID) has been prepared as not available to retail in EEA or the UK
Timing: Books open, today's business
Issuer: Saipem Finance International B.V.
Guarantors: Saipem SpASaipem (Portugal) - Comércio Marítimo, Sociedade Unipessoal Lda.Saipem SASofresid SASaipem LimitedSaipem Offshore Norway ASSaipem Drilling Norway ASSaipem Contracting Netherlands B.V.Saipem Contracting Nigeria LimitedSaipem Luxembourg S.A.Global Petroprojects Services AGSnamprogretti Saudi Arabia Co LimitedSaudi Arabian Saipem Limited
Issuer Rating: Ba1 (negative) / BB+ (stable) by Moody’s / S&P
LEI: 724500V4QZAOY63SY989
Exp Issue Rating: Ba1 / BB+ by Moody’s / S&P
Format: Senior Unsecured Notes, Reg S, Bearer, New Global Note (TEFRA D rules apply, no communications with or into the US)
Size: €500m (no-grow)
Settlement: 15 July 2020 (T+6)
Maturity: 15 July 2026 (6 year)
IPTs: 3.750% area
Coupon: Fixed, Annual, Act/Act
Listing / Docs: Luxembourg Stock Exchange (Unregulated Market) / Saipem’s €3bn EMTN Programme dated 29 June 2020
Call options: 3m Par Call / Clean-Up Call (80%) / CoC / MWC / Guarantor Coverage Level
Guarantor Coverage Level: Revenues > 65% of Saipem GroupAssets > 70% of Saipem GroupEBITDA > 75% of Saipem Group
Governing Law: English Law
UoP: General Corporate Purposes
Denoms: €100k x €1k
Joint Global Coordinators: BNP Paribas, Citi, Goldman Sachs International
Passive Bookrunners: Banca IMI, Banco Santander, Barclays, HSBC, JP Morgan, Mediobanca, Morgan Stanley, UniCredit
Use of Proceeds: General Corporate Purposes
Target Market: Manufacturer target market (MIFID II product governance) is eligible counterparties and professional clients only (all distribution channels). No PRIIPs key information document (KID) has been prepared as not available to retail in EEA or the UK
Timing: Books open, today's business