From 25 May 2018, two new collection bonds issued by Banca IMI, the investment bank of the Intesa Sanpaolo group, will be available on the MOT market of Borsa Italiana and on EuroTLX.
The instruments are: a mixed rate bond in euro (ISIN XS1822868698) and a mixed rate bond in dollars (ISIN XS1822866643).
“Thanks to this issue – explains the bank in a press release – Banca IMI expands its offer of collection bonds listed and negotiable on regulated markets, which rise to 52 and which can be used to diversify one's investment portfolio, thanks to the possibility to choose between different coupon structures and between 11 different currencies”.
Going into the details of the individual quotations, the Euro series VIII mixed-rate bond has a duration of 10 years and pays fixed gross annual coupons of 2% for the first 3,40 years. Subsequently, the coupon flow becomes variable and the bond pays the investor a coupon equal to the 3-month Euribor rate (with a minimum coupon of 1,10% and a maximum coupon of 3,40%). The minimum denomination of the bond is equal to 1.000 Euros.
The second bond, with a mixed US rate, has a duration of 8 years and pays fixed gross annual coupons of 3% for the first 5,50 years. From the fourth year, the investor pays a floating coupon equal to the 3-month USD Libor rate (with a minimum coupon of 2,60% and a maximum coupon of 5,50%). The minimum denomination of the bond is USD 2.000.
