Intesa Sanpaolo placed another one on Tuesday 30 August 1 billion euro green bond. The bank's 5-year senior non-preferred green issue pays a premium of 250 basis points over the swap curve. The Refinitiv Ifr service writes it, specifying that the issue has attracted orders exceeding 2,3 billion excluding lead managers. Intesa had been the first Italian bank to issue a green bond in 2017.
The yield indications, in reality, have been revised downwards with respect to a preliminary 270/275 cents, which then moved to 250/255. The stock has an expected rating of Baa3/BBB-/BBB-/BBB from Moody's/S&P/Fitch/Dbrs, deadline 6 September 2017 and will be priced today. Intesa Sanpaolo has appointed Credit Agricole Cib, Deutsche Bank, Ing, IMI-Intesa Sanpaolo, Mediobanca, NatWest Markets and Société Générale as lead partner, Deutsche Bank and IMI-Intesa Sanpaolo as Green Structuring Advisor.
The last green bond issued by Intesa dates back to March 2021, when the bank led by Carlo Messina placed a 7-year green bond worth 1,25 billion euros. In this case, the order book exceeded 3,5 billion euros, attracting the interest of over 260 investors and allowing a reduction in the spread initial (93 basis points on the midswap rate after initial indications in the 120 points area).
