Where's Banca he placed on Monday a half a billion bonds with fixed rate at 1,625%. The bond has maturity of five and a half years and is a senior non-preferred benchmark. The issue is part of the group's EMTN programme.
Over the course of the morning, UBI received orders from around 140 investors, for one final demand equal to approximately 2,5 times the amount of the issue.
The final spread stood at 198 basis points above the 5,5-year mid swap rate, compared to the 220 basis points initially announced. There coupon it is payable in arrears on 21 April each year. The re-offer price was set at 99,769% and the related yield to maturity at 1,67%.
44% of the bond was subscribed by Italian investors and the remaining 56% by foreign investors, with a strong presence of French (18%) followed by Germans (14%), English-Irish (10%) and Iberians (7 %).
60% of the investors were investment funds, followed by banks (34%), central banks (4%) and insurance companies (2%).
La settlement date will be October 21, 2019, while the deadline is set for April 21, 2025.
The joint bookrunners in charge of distributing the security are Bank of America Merril Lynch, Bnp Paribas, Commerzbank, Credit Agricole CIB, Ubi Banca and Unicredit.
