The books are open for the placement of a Banca Ifis senior preferred bond in euro maturing in April 2023. The news revealed by Radiocor confirms the anticipation released by the same institution just over a week ago.
The expected amount for the issue is equal to 300 million while the initial price indications are for a spread of 180 basis points above the midswap rate. The operation is managed by BNP Paribas, Nomura and Unicredit.
The stock, which will have a BB+ rating from Fitch, will pay a fixed annual coupon. More precise news on pricing is expected later in the day.
The transaction is part of the broader EMTN program (with a ceiling of 5 billion euro) signed on 29 September 2017 with a supplement dated 2 March 2018 (reserved for institutional investors in Italy and abroad with the exception of the United States, pursuant to of Regulation S of the United Securities Act of 1933).
Meanwhile in Piazza Affari Banca Ifis shares gain 1% to 33,82 euros, in line with the entire banking sector, today enjoying great popularity on the Milan stock exchange (+1,45%).
