Important movements for Telecom Italy e People's Bank of Milan on the bond market.
The buyback offer promoted by bpm on some bonds up to a maximum nominal value of 365 million euro, it ended with acceptances for 358,45 million. The institute announced it today in a note.
La Popolare di Milano also announced that on April 23 it will early extinguish the nominal 500 million bond issued in March 2012 with the guarantee of the Italian state. The bond's original maturity was 2017. The bond was subscribed upon issue by BPM itself and was never placed on the market.
Telecom Italy, however, communicated that, upon expiry of the term set by the offer launched on April 14th, the requests for the repurchase of bonds by the telecommunications group amount to 2,15 billion euro and the company intends to accept the transaction for a total nominal amount of around 2 billion.
In particular, Telecom will fully accept the applications for the repurchase of all bonds, with the exception of the 35,87 million Series of Notes maturing May 2018, which will be accepted on the basis of an allotment factor of approximately 33,15 %. However, the Company will not accept the repurchase of any Notes maturing September 2017 or Notes maturing January 2017.
The repurchase price for each Series of Notes will be determined today around 11 am, with the payment date scheduled for 24 April.
