It ended successfully the 750 million bond issue di Cassa Depositi e Prestiti which will allow the company "to strengthen its position on the financial markets, confirming its ability to attract capital, both national and international", explains Cdp in a note. There demand was equal to 3,5 times supply.
The Cdp bond
It was a bond with a nominal value of 750 million euros, fixed rate, non-subordinated and reserved for institutional investors.
The bond has a duration of 7 years (expiring in July 2031) and provides for a annual coupon of 3,875%. The security was issued as part of the Debt Issuance Program (DIP), Cdp's medium-long term issuance program amounting to 15 billion euros, listed on Euronext Dublin and intended for institutional investors.
Bond Cdp demand for more than 2,6 billion
Demand exceeded 2,6 billion euros and was approximately 3,5 times the offer, with orders coming from around 100 investors. L'final allocation, explains the company, saw the participation of 45% Italian investors and 55% foreign investors, in particular from Germany/Austria/Switzerland (16%), Spain and Portugal (15%) and France (13%). %). THE proceeds deriving from this new issue will be used by CDP to continue its activities to "support the development of the country", we read in a note
Il medium-long term rating of the securities, for which application has been made for admission to trading on the Dublin Stock Exchange, is expected to be BBB for S&P, BBB for Fitch and BBB+ for Scope.
Banca Akros, Banca Monte dei Paschi di Siena, Bper Corporate & Investment Banking, Crédit Agricole CIB, Deutsche Bank, Intesa Sanpaolo (IMI CIB Division), Morgan Stanley and UniCredit acted as Joint Lead Managers and Joint Bookrunners of the operation.
