Bond Amco at the go. The Italian company that deals with the recovery and management of non-performing loans placed on Tuesday a three and a half year senior unsecured note (maturity 27 March 2026) for a total nominal amount of half a billion.
“They have been collected orders from more than 60 institutional investors – reads the note – equal to approx 1,7 times the final amount of the issue. Foreign investors represent 62% of the allocated amount. In terms of type, 47% of the transaction was allocated to asset managers and the remainder to banks, institutions and pension funds”.
Bond Amco: coupon, issue price, settlement
The title has a fixed annual coupon of 4,375% it's a issue price of 99,896%. Settlement is expected on September 27, 2022. The bonds will be listed on the regulated market in Luxembourg.
The bond, "reserved for institutional investors, was issued under the €6 billion EMTN Program renewed on 16 September 2022, with an expected rating of BBB by both Standard & Poor's and Fitch – continues the note – Deutsche Bank, IMI-Intesa Sanpaolo, Mediobanca, Morgan Stanley and Santander acted as Joint Lead Managers. Clifford Chance and White & Case acted as legal advisors to AMCO and the banks, respectively."
