Intesa Sanpaolo Sole-Placement Agent for ESTRA’s US Private Placement

Intesa Sanpaolo, IMI Corporate & Investment Banking Division, acted as Sole-Placement Agent for the distribution to U.S. institutional investors of a EUR 70 million 7-year senior unsecured bond issued by ESTRA SpA ("U.S. Private Placement").

ESTRA is a leading Italian multi-utility company, with a strong presence in Central Italy. In 2021, ESTRA Group's turnover exceeded Euro 1 billion, with an EBITDA of nearly Euro 120 million.

The bonds , issued at par with a fixed coupon of 4.2 %, were listed on the Vienna Stock Exchange's and will be redeemed at par on the maturity date.

The proceeds of the notes – fully underwritten by Pricoa Private Capital (as part of the U.S.-based Prudential Financial Inc. group) – will support the growth and fulfill ongoing operational needs of the ESTRA Group.

This fist issue is part of an uncommitted program by Pricoa to underwrite ESTRA senior unsecured bonds up to an aggregate amount of USD 125 million equivalent, in a 3-year timeframe ("Private Shelf Facility").

This successful trade strengthens Intesa Sanpaolo's track record in the U.S. Private Placement market and further affirms the solidity of the relationship with ESTRA and the Bank's ability to facilitate interaction between issuers and investors.