Acquedotto Pugliese S.p.A. and PGIM Private Capital have finalized a Note Purchase and Private Shelf Agreement of $175 million and the simultaneous issuance of €70 million Series A Notes. The agreement is underwritten by PGIM Private Capital, the private capital division of PGIM Inc., a global investment manager and part of Prudential Financial.
Moore & Van Allen assisted Acquedotto Pugliese on matters of U.S. law with a team composed of Head of International Capital Markets John I. Sanders and associate Simons Howard.
BonelliErede assisted Acquedotto Pugliese on matters of Italian law with a team composed of partner Antonio La Porta and associates Francesca Spadafora and Martina Scicolone. Italian tax matters were handled by partner Marco Adda, assisted by managing associate Matteo Viani and senior associate Giovanni Bisleri.
Chiomenti supported PGIM Private Capital with a team coordinated by partners Benedetto La Russa and Nicholas Lasagna and composed of counsels Gioia Ronci and Fraser Wood and associates Guido Pisaneschi and Annie Jandoli. Italian tax matters were handled by of counsel Maurizio Fresca, together with senior associate Giovanni Massagli.
The Note Purchase and Private Shelf Agreement is part of the development path envisioned in Acquedotto Pugliese's strategic plan and allows the company to request from PGIM Private Capital, over the next three years, the issuance of notes up to a total amount of $175 million, including Series A Notes. Such notes are senior unsecured, have a 15-year maturity, pay a fixed-rate semi-annual coupon, and will not be listed on regulated markets.