Success for the three-year bond launched today by Banco Popolare. The final amount of the placement was set at quotas 1,250 billion euros, while demand has exceeded the threshold of 5 billion. There were 350 accounts that participated.
The institute managed to significantly reduce the cost of the operation: the spread was reduced to 310 basis points on the midswap, against an initial guidance indicated at 340 basis points.
The placement was handled by Banca Aletti, Banca Imi, Bank of America-Merrill Lynch, Citigroup, Goldman Sachs and Natixis.
At the beginning of the afternoon, Banco Popolare's shares rose by more than one point and a half.
