Bpm bank e Enel communicate that they have successfully completed the placement respectively of a green bonds and a sustainability bonds.
Banco Bpm's green bond
Il Banco Bpm green bonds was issued at a price of 99,654% and with a fixed coupon of 6%. The issue is of the Green Senior Non Preferred type, with a four-year maturity (September 2026), and is 500 million euro.
As for demand, orders exceeded 900 million euros. Investors totaled around 120, of which 70% specialized in the ESG segment. In detail, they mainly participated in the operation asset manager (61%) and banks (20%). Geographically, Italian investors accounted for 43% and those from the United Kingdom 24%. This is followed by operators based in France (14%), Belgium, the Netherlands and Luxembourg (8%), Germany, Austria and Switzerland (7%).
"The security, which is reserved for institutional investors - continues the bank's press release - was issued under the issuer's Euro Medium Term Notes Program and has an expected rating of Ba2/BB+/BBH (Moody's/Fitch/DBRS)" . The proceeds deriving from the issue “will be used to finance and/or refinance Eligible Green Loans, as defined in the Bank's Green, Social and Sustainability Bond Framework”.
Enel's sustainability bond
As for Enel, will be one billion euros sustainability bonds launched yesterday. Orders exceeded 2,1 billion euros and requests allowed the placers to bring the price range to 157 basis points above the midswap rate compared to the initial 175 points. The security will expire in March 2029. The placement was bookrunners by Bnp, Bper, Commerzbank, Goldman Sachs, Imi-Intesa Sanpaolo, JP Morgan, Mediobanca, Morgan Stanley and Unicredit.
