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TIM S.p.A. - Tender Offer - Launch

TIM S.p.A. ANNOUNCES TENDER OFFERS TO PURCHASE NOTES FOR CASH

11 JULY 2023


Full announcement including disclaimers and offer restrictions available via EuroNext


"TIM S.p.A. (the “Issuer”) has today launched separate invitations to holders of its outstanding (i) EUR 750,000,000 3.625 per cent Fixed Rate Notes due 19 January 2024 (ISIN: XS1347748607) (the “EUR Jan 2024 Notes”) and (ii) EUR 1,250,000,000 4.000 per cent Fixed Rate Notes due 11 April 2024 (ISIN: XS1935256369) (the “EUR April 2024 Notes”) (each a “Series” and together the “Notes”), to tender such Notes for purchase by the Issuer for cash (each such invitation an “Offer” and together the “Offers”). The Offers are being made on the terms and subject to the conditions contained in the tender offer memorandum dated 11 July 2023 (the “Tender Offer Memorandum”) and are subject to the New Financing Condition and the other offer restrictions set out below and as more fully described in the Tender Offer Memorandum."


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Summary of the Offers


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"Purpose of the Offers


The purpose of the Offers and the planned issuance of New Notes (as defined below) is, amongst other things, to proactively manage the Issuer’s expected redemption profile. The Offers also provide Noteholders with the opportunity to sell their current holdings in the Notes and to apply for priority in the allocation of the New Notes, as more fully described in the Tender Offer Memorandum."


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