Successful placement of the senior preferred, unsecured issue of the Banco BPM Group. Banco BPM SpA announces that it has completed today a senior preferred bond issue with a 3-year maturity, for an amount of 750 million euro. The bond pays a fixed coupon of 2% and has an issue price of 99,957% equivalent to a spread of 2,05% above the 3-year swap rate. The operation saw excellent demand, with around 150 investors involved and a total order book of over €1,3 billion.
The geographical allocation is as follows: Italy 62%, UK and Ireland 16%, France 8%, Germany and Austria 6%; the allocation by type of investor saw the prevalence of fund managers with 61%, followed by banks (31%), and by insurance companies and pension funds (7%). The bond, which is reserved for institutional investors and is part of Banco BPM SPA's EMTN Programme, will be listed on the Luxembourg Stock Exchange with an expected rating of Ba2 (Moody's) and BBB Low (DBRS). Banca Akros, Banca IMI, Barclays, Credit Agricole CIB, Credit Suisse and Société Générale acted as joint bookrunners.
