Banco Bpm has launched the placement of a new covered bond guaranteed by high quality residential mortgages and reserved for institutional and qualified investors.
The bond loan, which once issued should obtain an A1 rating from Moody's, will expire in September 2023 and will be listed in Luxembourg. The initial price indications are 95 basis points above the midswap rate and the expected amount of the bond is 500 million euros.
The institutions involved in the operation with the role of bookrunners are Banca Akros, Barclays, Landesbank Baden-WA1/4rttemberg, Natixis, Santander and Unicredit.
At the beginning of the afternoon, the share on the Stock Exchange lost 1,23%, to 2,649 euros.
