Banca del Monte dei Paschi di Siena, waiting to understand its destiny and while the possibility of a merger with Unicredit grows (but still to be defined), continues to operate on the market and has just announced that it has successfully concluded the placement of an unsecured bond issue of the Senior Preferred type, at a fixed rate with a 5-year maturity, intended for institutional investors, for an amount of 750 million euros.
The transaction has received final orders for around 1,7 billion euros from over 160 investors. Only a third of these, 33%, is Italian, while the country where the largest share comes from, based on the geographical breakdown indicated in the note issued by the Tuscan bank, is the United Kingdom, with 39%. The yield, initially indicated at approximately 2,25% – 2,30%, was brought to a final level of 1,963%. The security was distributed to Asset Managers (61%), Banks (18%), Hedge Funds (13%) and others (8%).
The bond, issued under the BMPS Debt Issuance Programme, with an expected rating of Caa1 (Moody's) / B (Fitch) / B(high) (DBRS), will be listed on the Luxembourg Stock Exchange. Credit Suisse, Deutsche Bank, IMI-Intesa Sanpaolo, MPS Capital Services and Société Générale handled the placement as Joint Bookrunners.
