After Eni, Mediobanca, Unicredit, Bper, Generali, too Terna e Bpm bank have taken advantage of the opportunities offered since the beginning of the year to issue bonds. The banking group led by Giuseppe Castagna has conquered the market with a 750 million euro green bond, generating a huge demand of over 3,2 billion euros. At the same time, the company led by Giuseppina Di Foggia successfully concluded an 850 million euro bond offering, with demand exceeding supply by more than three times. Both operations underlined a strong investor interest, consolidating the position of Banco Bpm and Terna in the financial landscape.
Banco Bpm's new 750 million green bond
Bpm bank successfully issued a 750 million green bond euros, with orders reaching 3,2 billion euros, indicating strong investor interest. The bond has a maturity of six years and the possibility of early repayment in January 2029, it was issued at 99,537% with a fixed coupon of 4,875%. This is the second issue, but the first in Green format, under the new Framework, bringing the total ESG issues to eight with a total collection of 5 billion euros. The main investors are asset managers (67%) and banks (23%), with a geographical distribution that sees the prevalent participation of foreign investors (UK 31%, France 13%, Germany 10%, Nordic countries 8%) and Italians (26%). Banca Akros, Bnp Paribas, Deutsche Bank, Intesa Sanpaolo, Nomura and Société Générale acted as Joint Bookrunners.
Terna's new 7-year bond yielding 3,5%
Terna concluded an issue of bonds from 850 million of euros with one duration of 7 years. Demand exceeded supply by more than 3 times. The issue is part of the Euro Medium Term Notes Programme, rated “BBB+” by Standard and Poor's and “(P)Baa2” by Moody's, with an annual coupon of 3,50%. The proceeds will be used for the Group's financial needs and to support the industrial plan. Terna plans to list the bond on the regulated Luxembourg Stock Exchange. The syndicate of banks, with Banca Akros, Bnp Paribas, CaixaBank, Citigroup, Crédit Agricole Corporate and Investment Bank, Imi – Intesa Sanpaolo, Morgan Stanley, Smbc and Unicredit as joint bookrunners, supported the operation.
