Banca IMI launches two bonds in US dollars, tradable from 21 January on Borsa Italiane and on euroTlx.
The two bonds issued today by the investment bank of the Intesa Sanpaolo group are added to those already listed (the institute's Collection bonds total 55) in 10 foreign currencies.
Going into details, the first bond has an increasing coupon in US dollars, maturing in 2023, and pays a gross annual fixed coupon equal to:
- 1st year: 3%,
- 2st year: 3,3%,
- 3st year: 3,5%,
- 4th year: 4%.
The second bond, also in US dollars, is instead at a mixed rate and has a duration of 10 years. In this case, Banca Imi provides for a gross annual fixed coupon of 5,7% for the first 4 years. From the fifth year, on the other hand, there is a move to a gross annual variable coupon indexed to LIBOR USD 3 Months with a minimum coupon of 3,00% and a maximum of 5,70%.
Both bonds are of the senior type, have a minimum denomination of 2 thousand US dollars and belong to the so-called "Collection Bonds".
