Mediobanca's first green bond is snapped up. Investors have presented requests 6 times higher than the offer of 500 million requested by the bank, bypassing the 3 billion orders.
The placement, launched on Tuesday morning, involves a 7-year senior preferred security. The level of demand, reports Radiocor, led to lowering the price guidance to a spread in the area of 140 basis points above the midswap compared to the initial one of 165 basis points. The final data of the placement specify that the new bonds issued will pay a coupon of 1%.
The placement of Mediobanca's first green bond concerned a security maturing in September 2027 and will be able to count on an expected rating of Baa1 from Moody's, BBB from S&P and BBB- from Fitch. Initial price indications were for a spread in the area of 165 basis points above the midswap rate. The operation is managed by BBVA, Mediobanca, Natwest, Santander and UniCredit in the role of bookrunner.
