ERG S p A : places its inaugural Green Bond f...

Genoa, 4 April 2019 - ERG S.p.A. ('ERG') has completed its placement of a 6 year fixed rate bond for 500,000,000 Euro, issued as part of its 1 billion Euro EMTN (Euro Medium Term Notes) Programme (see PR dated 19/12/2018), as last amended and supplemented on 26 March 2019.

The issue took place in the form of a Green Bond, destined to finance, or refinance, projects pertaining to the generation of energy using the ERG group's renewable wind power or solar power sources.

The bond issue is exclusively addressed to Euromarket institutional investors. The issue was very well received, with a request exceeding 6 times the amount of notes offered, on the part of investors of high standing with a broad geographical diversification, and saw a significant participation of green and sustainable investors.

The bonds, which have a minimum denomination of Euro 100,000, pay a gross annual fixed rate of interest of 1.875% and were placed at an issue price corresponding to 99.674% of nominal value. The settlement date has been fixed on 11 April 2019. As of that date, the bonds will be traded on the regulated market of the Luxembourg Stock Exchange.

Fitch Ratings is expected to assign a BBB- rating to the bond issue.

Luca Bettonte, ERG's Chief Executive Officer, commented: 'The inaugural Green Bond issue by ERG forms part of our strategy, which envisages the gradual evolution of the Group's financial structure from Project to Corporate Financing, in line with the forecast change in the industry and the expected trend in our generation portfolio. The transaction confirms once again the high confidence of investors vis-à-vis ERG and how the strong orientation of our business model towards sustainable development is recognised and valued also by the financial market.'

The placement was arranged by Banca IMI, Barclays, BNP Paribas, Crédit Agricole Corporate and Investment Bank, Mediobanca - Banca di Credito Finanziario S.p.A. and UniCredit as Joint Bookrunners and by ING as Co-Lead manager.

BNP Paribas acted as Rating Advisor and Co-Green Structuring Advisor, whereas Crédit Agricole Corporate and Investment Bank acted as Green Structuring Advisor and Co-Rating Advisor.

ERG has been assisted by the Law Firm Clifford Chance, while the Bookrunners have been assisted by the Law Firm Allen & Overy.

Vigeo Eiris, in its capacity as independent advisor, has issued a Second Party Opinion, certifying the compliance of ERG's Green Bond Framework with the Green Bond Principles.

The minutes of the Company's Board of Directors meeting regarding the issuance of the bond and the subsequent resolution will be made available to the public within the terms and according to the procedures set forth by prevailing laws and regulations at the Company's head office at Via De Marini 1, Genoa, on the Company's website (www.erg.eu), at the offices of Borsa Italiana S.p.A. and on the eMarket Storage authorised storage mechanism (www.emarketstorage.com).

This announcement (and the information contained herein) does not constitute or form part of a public offering of financial products or an invitation for offers to purchase financial products in Italy within the meaning set forth by Legislative Decree no. 58 dated 24 February 1998. The documentation relating to the offering has not been/will not be submitted to approval by CONSOB. The distribution of this announcement may be contrary to the applicable law in some jurisdictions. This announcement does not constitute an offer for sale of financial products in the United States of America, Canada, Australia or Japan or any other jurisdiction where such offer or sale is prohibited and may not be directly or indirectly published or distributed in such jurisdictions. The financial products referred to in this announcement have not been and will not be registered pursuant to the 1933 Securities Act of the United States of America, as subsequently amended; the said products may not be offered or sold in the United States of America without registration or an applicable exemption from registration requirements.

This press release, issued at 8.40p.m. (CEST) on 4 April 2019, is available to the public at the offices of Borsa Italiana S.p.A., on the eMarket Storage authorised storage mechanism (www.emarketstorage.com) and on the Company's website (www.erg.eu) in the section 'Media/Press releases'.

Contacts:
Sabina Alzona Media Relations Manager - tel. + 39 010 2401804 mob. + 39 340 1091311 - email: [e-mail]
Emanuela Delucchi IR Manager - tel. + 39 010 2401806 - e-mail: [e-mail]
Matteo Bagnara IR - tel. + 39 010 2401423 - e-mail: [e-mail]
www.erg.eu - @ERGnow