(Finance) – Ifis Bank concluded yesterday the placement of a Senior Preferred Unsecured bond issue as part of its EMTN issuance program for an amount of 400 million euros.
The operation was intended to institutional investors.
In particular, the issue has a five-year duration, with a settlement date scheduled for February 27, 2024. The reoffer price is equal to 99.362 for a yield to maturity of 5.65% and a coupon payable annually of 5.50%. The bond will be listed on Euronext in Milan and has an expected rating of BB+ by Fitch and Baa3 by Moody’s.
The placement of the bond in question is part of the EMTN funding program envisaged by the Bank’s Business Plan for the three-year period 2022-24, which estimates 2.5 billion euros of new placements.
In the operation, Banca Ifis availed itself of the support of BNP Paribas, Equita, Goldman Sachs International, Mediobanca, Santander and UniCredit as Joint Lead Managers bookrunners. Clifford Chance supported the Joint Lead Managers.