Bpm bank he placed his first non-preferred senior bonds. It is a benchmark bond from 750 million euro with a maturity of five years and fits into the group's Emtn program.
La question it was particularly strong, almost three times exceeding the offer: orders that reached 2,2 billion and came from 210 institutional investors, mostly foreign.
As for the return, the bond pays a fixed coupon of 1,625%, with a spread above the mid-swap rate of 193 basis points and an issue price of 99,87.
The securities were mainly purchased by asset managers (74,4%), banks (13,0%), hedge funds (6,0%) and insurance companies or pension funds (4,3%).
The bonds were valued with the rating Bbh from Dbrs. At Moody's, on the other hand, it is expected to be rated B1.
The pool of banks which acted as joint bookrunner was made up of Mediobanca, JP Morgan, Société Générale, Banco Santander, HSBC and Banca Akros.
