As part of the 3 billion euro EMTN programme, Iccrea Banca placed a 600 million euro fixed-rate, five-year bond with a yield of 135 basis points above the mid swap rate of the same maturity. The new issue pays an annual fixed rate of 1,50% with a reoffer price of 99,59 which corresponds to a yield of 1,586%.
About eight months after the last senior issue placed on the Euromarket, Iccrea Banca returned to the international financial market with a new senior bond which once again met with significant interest from a vast number of institutional investors, both Italian and foreign.
In a market context characterized by significant volatility attributable to geopolitical factors, Iccrea Banca, with the support of Barclays, BNP Paribas, Mediobanca and Unicredit as joint book runners and Banca Akros as co-dealer, managed to meet the interest of over 150 domestic institutional investors (which also highlight the significant contribution from 70 Cooperative Credit Banks, to which € 200 million have been allocated) and from the main European countries (Austria, Benelux, Germany, Great Britain, Spain, Switzerland, etc. ). 14% of the total issue was allocated to the latter.
Overall, orders were collected for over 900 million euro, against which Iccrea Banca has decided to increase the initially planned amount of 500 million euro to 600 million. The success of the operation demonstrates once again the visibility and dynamism of Iccrea Banca as the reference intermediary for mutual banking, bearing witness to the degree of reliability achieved in the international financial context.
