Last Friday the Cassa Depositi e Prestiti he closed his offer early according to bond retail thanks to the strong demand from Italian savers. Compared with the initial offering of one billion, the bond amount has been increased to 1,5 billion.
La request by residents in Italy was equal to over 4 billion and it came from over 104 savers. CDP informs that each applicant will be assigned the minimum quantity equal to one thousand euros and for the exceeding offers the allotment will proceed.
The bonds are mixed rate: for the first two years they will pay a fixed annual coupon of 2,7% gross and for the following five years a gross variable coupon indexed to the 3-month Euribor plus a margin of 1,94%.
“The success of the new bond issue once again confirms the central role that Italian savers assign to CDP” comments the president of CDP, Massimo Tononi.
“The strong interest found on the market is a source of great satisfaction for us – adds the managing director Fabrizio Palermo – and confirms the historic bond of trust that unites savers to CDP, consolidating its driving role in supporting the country's development. Thanks to this new retail issue, we will be able to have additional resources to support the initiatives we have launched and which are for the first time oriented towards the sustainable development of infrastructures, businesses and the local area".
Banca IMI, BNP Paribas and an entity of the Unicredit group acted as placement managers in the transaction.
