(Finance) – BPM desk has concluded the placement of a new Covered Bond issue intended for institutional investors for an amount of 500 million euros and a 3-year maturity as part of its 10 billion euro Guaranteed Banking Bonds program (BPM Covered Bond 2).
This is the second issue of European Covered Bond (Premium) issued by Banco during 2023.
The stock, which will be listed on the Luxembourg Stock Exchange, has an expected rating of Aa3(Moody’s). This public covered bond issue has a yield equal to the reference mid-swap rate + 49 basis points, a fixed rate coupon of 3.875% and maturity on 18 September 2026.
Confirming the high interest in the Group on the part of Italian and foreign investors, the issue collected orders for over 900 million euros allocated with the following geographical distribution: Italy 23%, Germany 24%, Nordic Countries 23%, UK and Ireland 20%, France 4% and Spain 2%, other countries 4%.
The investors who participated in the operation were mainly asset managers (60%) and banks (26%).