Cassa Depositi e Prestiti concluded a bond issue from 500 million euros, at a fixed rate, not subordinated and reserved for institutional investors. The bond, with a duration of 7 years (expiring in October 2030), provides for a coupon annual rate of 4,75%. The security was issued as part of the Debt Issuance Program (DIP), Cdp's medium-long term issuance program amounting to 15 billion euros, listed on Euronext Dublin and intended for institutional investors.
500 million Cdp bond: boom in orders
La question, of over 1,9 billion euros, was equal to approximately four times the offer, with orders coming from around 70 investors, arousing particular interest on both the domestic and foreign markets: 57% of the total placement amount was allocated to the latter. The proceeds deriving from this new issue will be used by CDP "to continue its activities in support of the country's development", explains a note.
Il rating in the medium-long term of the securities, for which an application has been made for admission to trading on the Dublin Stock Exchange, is expected to be BBB for S&P, BBB for Fitch and BBB+ for Scope. Banca Akros – Gruppo Banco Bpm, Bnp Paribas, Citi, Intesa Sanpaolo (IMI CIB Division), Nomura, Santander, Unicredit acted as lead managers and joint bookrunners of the operation.
