Banco Bpm has successfully placed with institutional investors a covered bond for 750 million with a 7-year maturity, as part of its 2 billion covered bond program (Bpm Covered Bond 10). This was reported by a note from the institute.
This public issue of covered bonds, the first after the establishment of the Banco Bpm Group, has a yield equal to the 7-year mid-swap rate + 40 basis points, a fixed rate coupon of 1% and maturity on 23 January 2025 .
The issue collected orders for over one billion allocated with the following geographical breakdown: Italy (56%), Germany-Austria (23%), Nordic Countries (8%), Benelux (4%), France (3%) and others (6%).
