Mediobanca lancia two buybacks. These are voluntary buyback offers, even partial, on own "senior unsecured" bonds maturing in 2014. The total maximum amount of the transactions - placed through the Intesa Sanpaolo and Unicredit networks - is two billion euros.
The offers "will allow Mediobanca to change the time distribution of its liabilities - reads a note from the Piazzatta Cuccia institution - in order to reduce the relative weight and time concentration of those maturing in the 2014 calendar year, as well as use the Institute's significant liquidity efficiently”.
The buyback operation will be conducted through two "distinct and independent" offers which will start on March 11th and end on April 3rd. In detail, the first offer it concerns bonds, mainly placed on the Intesa SanPaolo network, for a maximum amount of 1,750 billion euro, in which Banca Imi will act as Financial Advisor.
The second offer instead it concerns bonds placed on the UniCredit network, for a maximum amount of 250 million euro, in which the Financial Advisor will be Unicredit itself.
Il price repurchase period of each security will be determined each working day on the basis of the swap rate relating to the residual life of the securities, increased by a spread which will be communicated from the first day of the offer. This morning at the opening of Piazza Affari, the Mediobanca share yielded slightly, traveling in the red by 0,2%.
