Where's Banca he successfully launched his Thursday second senior non-preferred bond. It is a benchmark issue with a five-year maturity and a fixed rate. The total value is equal to 500 million euro.
Orders came close to one billion euros and came from about 90 investors, 45% Italian and the remaining 55% foreign, with a strong presence of French (17%) followed by English and Irish (14%), Nordic countries (8%), German and Iberian (each 5%) and Swiss (4%).
The largest number of subscriptions came from investment funds and asset managers (65%), followed by banks (20%), central banks (7%), insurance companies (4%) and other financial intermediaries (4%). .
The influx of orders during the placement process allowed to reduce the final spread at 290 basis points above the 5-year mid swap rate, compared to the 305 area basis points initially announced.
La fixed coupon, equal to 2,625%, is payable in arrears on 20 June each year.
The re-offer price was set at 99,465% and the related yield to maturity at 2,741%.
The settlement date is set at 20 June 2019, the expiry date at 20 June 2024.
I Joint Bookrunners JP Morgan, LBBW, Mediobanca, Natixis and Santander, as well as Ubi Banca itself, are in charge of distributing the security.
