(Tiper Stock Exchange) – BPM desk concluded the placement of a new Covered Bond issue intended for institutional investors for an amount of 750 million euro and maturity 5 years under its 10 billion euro covered bond program (BPM Covered Bond 2).
This is the first European Covered Bond (Premium) issued by Banco BPM in compliance with the new European directive transposed on 30 March 2023.
The security, which will be listed on the Luxembourg Stock Exchange, has an expected rating of Aa3 (Moody’s), a fixed rate coupon of 3.75% and maturity on June 27, 2028.
The issue has collected orders for 1.3 billion euros allocated with the following geographical breakdown: Italy (47%), Germany-Austria-Switzerland (20%), Nordic Countries (14%), Benelux (11%) and United Kingdom (6%).
The placement of the issue was handled by Banca Akros (related party of the issuer Credit Agricole CIB, Barclays, IMI-Intesa San Paolo, Landesbank Baden-Wurttemberg, Raiffeisen Bank International AG and UniCredit; NORD/LB and Helaba acted as of Co-Lead Manager.