(Finance) – BPER Bank successfully completed the placement of the first Senior Preferred bond qualified as “green”, in line with the Group’s GSS Bond Framework (Green, Social and Sustainability Bond Framework), intended for institutional investors.
The amount placed was equal to Euro 500 million, with a maturity of 6 years and the possibility of early repayment (call) after 5 years.
Confirming the high interest in BPER Banca, they are orders exceeding Euro 3.4 billion were collected.
The well-diversified demand made it possible to reduce the initial level, equal to 200 bps above the 5-year mid-swap, down to 160 bps. Consequently, the annual coupon was set at 4.250%, with issue price/re -offer of 99.753%.
The geographical distribution sees the presence of foreign investors – including the United Kingdom with 20%, Germany, Austria and Switzerland with 13% and France with 9% – and Italians with 42%.
The final allocation was mainly intended for investment funds (51%) and banks & private banking (30%).
The issue, the proceeds of which will be used to finance and/or refinance Eligible Green Asset, is integrated into BPER’s ESG strategy and represents the concrete achievement of environmental sustainability objectives.
Citibank, Deutsche Bank, NatWest Markets, Santander, UBS Investment Bank and UniCredit acted as Joint Bookrunners, while Equita and Jefferies acted as Co-Lead Managers.
The expected ratings are as follows: Ba1 (Moody’s)/ BBB- (Fitch)/ BBB (DBRS).