Good success for the 5-year Senior Unsecured Bond placed on the market this morning by Banca Popolare di Milano. In fact, the Milanese institute has placed the entire amount of the issue, ie 500 million euros, with institutional investors.
The bond has a fixed rate of 4,25% and the yield has been set at 320 basis points above the 5-year midswap rate. Strong demand: the volume of orders exceeded 1,4 billion euros, about 3 times the value issued.
The transaction was handled by a pool of banks made up of Banca Akros, BNP Paribas, Goldman Sachs, Nomura and Royal Bank of Scotland.
By mid-morning, the BPM share dropped 1,3% in Piazza Affari.
