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EMTN Programme

 

The opportunities of our bond issue program: minutes and charts

On July 12, 2006 Terna established the EUR 2 billion Euro Medium Term Note Programme (EMTN)  allowing the company to benefit of the potential funding opportunities in the international capital markets, through the issuance of Notes with different maturities and denominated in all major currencies. The programme was listed on Luxembourg Stock Exchange.

Arrangers: Deutsche Bank e Citi.
Dealers: Banca IMI, Barclays Capital, BNP PARIBAS, BofA Merrill Lynch, Citi, Crèdit Agricole – CIB, Credit Suisse, Deutsche Bank, Dresdner Kleinwort, HSBC, J.P. Morgan, Mediobanca S.p.A, Morgan Stanley, MPS Capital Services S.p.A, Nomura International, Société Générale Corporate & Investment Banking, The Royal Bank of Scotland, UBS Investment Bank, UniCredit Bank.

  • 2019

    • On February 8, 2019 Terna issued a first Supplement to the Base Prospectus dated October 12, 2018. Supplement February 8, 2019.
    • On January 10, 2019 Terna launched a fixed rate green bond issuance, in the context of a private placement, for a total amount of Euro 250 million and with a maturity date falling on 23 July 2023.

  • 2018

    • 2018 Base Prospectus
    • On October 12, 2018 Terna updated its EMTN Programme leaving the total amount unchanged. The Programme was assigned, on the same date, a rating of BBB+/A-2 by Standard & Poor’s, Baa1 On Review for Downgrade/P-2 by Moody’s and BBB+ by Fitch. These levels reflect the current rating assigned to Terna by the Agencies.
    • On July 16, 2018 Terna launched a fixed rate bond issuance for a total amount of Euro 750 million with a maturity date falling on 23 July 2023.
    • On 13 July 2018 TERNA issued a second Supplement to the Base Prospectus dated October 13, 2017 Supplement July 13, 2018
    • 2017

      • On 13 December 2017 Terna issued a first Supplement to the Base Prospectus dated October 13, 2017. Supplement December 13, 2017
      • 2017 Base Prospectus
      • On October 13, 2017 Terna updated its EMTN Programme leaving the total amount unchanged. The Programme was assigned, on the same date, a rating of BBB/A-2 by Standard & Poor’s, Baa1/P-2 by Moody’s and BBB+ by Fitch. These levels reflect the current rating assigned to Terna by the Agencies.
      • On 21 September 2017 Terna issued a second Supplement to the Base Prospectus dated October 19, 2016. Supplement September 21, 2017
      • On July 19, 2017 Terna launched a fixed rate bond issuance for a total amount of 1 billion Euro with a maturity date falling on 26 July 2027.
      • On 18 July 2017 Terna issued a first Supplement to the Base Prospectus dated October 19, 2016. Supplement July 18, 2017
    • 2016

      • 2016 Base Prospectus
      • On October 19, 2016 Terna updated its EMTN Programme leaving the total amount unchanged. The Programme was assigned, on the same date, a rating of BBB/A-2 by Standard & Poor’s, Baa1/P-2 by Moody’s and BBB+ by Fitch. These levels reflect the current rating assigned to Terna by the Agencies.
      • On October 5, 2016 Terna launched a fixed rate bond issuance for a total amount of 750 million Euro with a maturity date falling on 11 October 2028.
      • On October 4, 2016 Terna issued a third Supplement to the Base Prospectus dated December 15, 2015. Supplement October 4, 2016
      • On May 17, 2016 Terna issued a second Supplement to the Base Prospectus dated December 15, 2015. Supplement May 17, 2016
      • On February 24, 2016 Terna issued a first Supplement to the Base Prospectus dated December 15, 2015. Supplement February 24, 2016
      • On February 18, 2016 Terna launched a fixed rate bond issuance in the context of a private placement for a total amount of 80 million Euro with a maturity date falling on 3 March 2026
    • 2015

      • 2015 Base Prospectus
      • On December 15, 2015 Terna updated its EMTN Programme leaving the total amount unchanged. The Programme was assigned, on the same date, a rating of BBB/A-2 by Standard & Poor’s, Baa1/P-2 by Moody’s and BBB+ by Fitch. These levels reflect the current rating assigned to Terna by the Agencies.
      • On April 9, 2015 Terna issued a second Supplement to the Base Prospectus dated December 16, 2014 Supplement April 9, 2015
      • On April 9, 2015 Terna increased the total amount of its EMTN Programme to EUR 8 billion 
      • On January 23, 2015 Terna launched a fixed rate bond issuance for a total amount of 1 billion Euro with a maturity date falling on 2 February 2022.
      • On January 22, 2015 Terna issued a first Supplement to the Base Prospectus dated December 16, 2014. Supplement January 22, 2015
    • 2014

      • 2014 Base Prospectus
      • On December 16, 2014 Terna updated its EMTN Programme leaving the total amount unchanged. The Programme was assigned, on the same date, a rating of BBB/A-2 by Standard & Poor’s, Baa1/P-2 by Moody’s and BBB+ by Fitch. These levels reflect the current rating assigned to Terna by the Agencies.
      • On February 28, 2014 Terna issued a second Supplement to the Base Prospectus dated June 28, 2013. Supplement February 28, 2014
      • On January 31, 2014 Terna issued a first Supplement to the Base Prospectus dated June 28, 2013. Supplement January 31, 2014
    • 2013

      • 2013 Base Prospectus
      • On June 28, 2013 Terna updated its EMTN Programme increasing the total amount to EUR 6 billion. The Programme was assigned, on the same date, a rating of A-/A-2 by Standard & Poor’s, Baa1/P-2 by Moody’s and A- by Fitch.
    • 2012

      • On October 9, 2012 Terna launched a fixed rate bond issuance of a nominal value of 750 million euros with maturity at February 16, 2018
      • On September 26, 2012 Terna issued a Supplement to the Base Prospectus dated June 15, 2012. Supplement September 26, 2012
      • 2012 Base Prospectus
      • On June 15, 2012Terna updated its EMTN Programme increasing the total amount to EUR 5 billion. The programme has been assigned a rating of A- from Standard & Poor’s, Baa1 from Moody’s and A from Fitch. These levels reflect the current rating assigned to Terna by the Agencies.
      • On February 13, 2012 Terna launched a fixed rate bond issuance of a nominal value of 1.25 billion euros with maturity at February 17, 2017
      • On February 10, 2012 Terna issued a Supplement to the Base Prospectus dated May 20, 2011. Supplement February 10, 2012
    • 2011

      • 2011 Base Prospectus
      • On May 20, 2011 Terna renewed its EMTN Programme leaving the total amount unchanged. The programme has been assigned a rating of A+ from Standard and Poor’s, A2 from Moody’s and A+ from Fitch.
      • On March 8, 2011 Terna launched a fixed rate bond issuance of a nominal value of 1.25 billion euros with maturity at March 15, 2021
      • On February 16, 2011 Terna issued a Supplement to the Base Prospectus dated May 25, 2010. Supplement February 16, 2011
    • 2010

      • 2010 Base Prospectus
      • On May 25, 2010 Terna renewed its EMTN Programme increasing the total amount to EUR 4 billion. The programme has been assigned a rating of A+ from Standard & Poor’s, A2 from Moody’s and A+ from Fitch. These levels reflect the ratings assigned to Terna by the agencies during 2010.
    • 2009

      • On July 8, 2009 Terna issued a Supplement to the Base Prospectus dated November 14, 2008. Supplement July 8, 2009
      • On June 22, 2009 Terna launched a fixed rate private placement bond issuance of a nominal value of 600 million euros with maturity at October 3, 2019.
    • 2008

      • 2008 Base Prospectus
      • On November 14, 2008Terna renewed EMTN Programme leaving the total amount unchanged and it has been assigned a rating of AA- from Standard & Poor’s, A1 from Moody’s and AA- from Fitch. These levels reflect the ratings assigned to Terna by the agencies during 2008.
    • 2007

      • On October 23, 2007 a 500 million euro bond linked to the Italian inflation with a 2.731% coupon and maturity on September 15, 2023 has been issued under the Programme.