A&O Shearman Advises on Italgas €750m Dematerialized Bond Issuance

"A&O Shearman advised a syndicate of banks led by BNP Paribas, BofA Securities, Crédit Agricole CIB, IMI‑Intesa Sanpaolo, J.P. Morgan, Mediobanca and Société Générale on Italgas S.p.A.'s EUR 750 million fixed‑rate bond maturing 16 April 2032. The six‑year issue carries a 3.625% annual coupon, was priced at a 78 bp spread, and drew orders in excess of 2.5x with broad geographic investor demand. It is the first dematerialized bond by an Italian corporate under the CONSOB‑approved EMTN program (July 2025), governed by English law and concurrently listed on Borsa Italiana’s MOT. The A&O Shearman team was led by partner Cristiano Tommasi, with Sarah Capella, Elisabetta Rapisarda and Paolo Martellone."