TELECOM ITALIA CAPITAL: RESULTS ANNOUNCEMENT OF USD EXCHANGE OFFERS

LUXEMBOURG, May 17, 2024 /PRNewswire/ -- Telecom Italia Capital ("TICAP") hereby announces the final results of the USD Exchange Offers (as defined in the exchange offer memorandum dated April 18, 2024 (the "USD Exchange Offer Memorandum")). The USD Exchange Offers are made on the terms and subject to the conditions set out in the USD Exchange Offer Memorandum. Capitalized terms used in this announcement but not defined have the meanings given to them in the USD Exchange Offer Memorandum.

TICAP hereby announces that the final aggregate principal amount of USD Original Notes accepted for exchange is $2,000,011,000.

TICAP hereby also announces that the results of the USD Exchange Offers are as follows:

(1)   It represents the Aggregate Principal Amount of relevant Series of USD Original Notes validly offered for exchange by Holders of the USD Original Notes on or prior to the Early Participation Deadline. On or prior to the Expiration Date but after the Early Participation Deadline, the aggregate principal amount tendered for each series of USD Original Notes was as follows: (1) $13,845,000 for the USD Original 2033 Notes, (2) $5,722,000 for the USD Original 2034 Notes, (3) $8,886,000 for the USD Original 2036 Notes and (4) $7,202,000 for the USD Original 2038 Notes. Since the Maximum Series Acceptance Amount for each series of USD Original Notes was reached on the Early Participation Deadline, the Issuer did not accept any USD Original Notes validly tendered for exchange at or prior to the Expiration Date but after the Early Participation Deadline.

(2)   Final Series Acceptance Amount of each Series of USD Original Notes and aggregate principal amount of each Series of USD New Notes issued to Participating Holders whose USD Original Notes are accepted for exchange in the USD Exchange Offers upon implementation of the USD Initial Exchange on the Settlement Date.

(3)   Since the Issue Date for the USD New Notes is expected to be May 21, 2024, the record date for the first payment of interest for the USD New 2038 Notes to be made on June 4, 2024 will be May 22, 2024. For interest payment dates following June 4, 2024, the regular record dates for the interest payment dates of June 4 and December 4 of each year will remain the immediately preceding May 16 and November 15, respectively.

(4)   Aggregate principal amount of the relevant Series of USD Original Notes not offered for exchange or not accepted by TICAP upon implementation of the USD Initial Exchange on the Settlement Date.

On the Settlement Date, Participating Holders whose USD Original Notes have been accepted for exchange in the USD Exchange Offers will also receive the Accrued Interest and the Early Bird Premium in respect of the USD Original Notes.

Expected Timetable of Events

Set out below is an indicative timetable based on the dates appearing in the USD Exchange Offer Memorandum. The actual timetable may differ significantly from the indicative timetable below.

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THIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7(1) OF THE MARKET ABUSE REGULATION (EU) 596/2014 ("MAR").

FOR THE PURPOSES OF MAR AND ARTICLE 2 OF COMMISSION IMPLEMENTING REGULATION (EU) 2016/1055, THIS ANNOUNCEMENT IS MADE BY FABIO ADDUCCHIO, MANAGING DIRECTOR OF TICAP.

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Contact:  
The Exchange and Information Agent
Kroll Issuer Services Limited
The Shard
32 London Bridge Street
London SE1 9SG
United Kingdom
Telephone: +44 20 7704 0880
Attention: Arlind Bytyqi / Jacek Kusion
Email: [email protected] 
Website: https://deals.is.kroll.com/tim

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SOURCE Telecom Italia Capital