Terna launches a perpetual green bond for 850 million euros. The bond is non-callable for 6 years, the issue price is set at 99.745%, with a spread of 214.2 basis points compared to the Midswap.
The issue will pay a fixed annual coupon of 4.750% which will be paid until the first reset date (excluding) scheduled for 11 April 2030. Starting from that date, if early repayment has not occurred, the hybrid bond will accrue annual interest equal to the five-year Euro Mid Swap rate.