(Finance) – BPM desk concluded the placement of a new Covered Bond issue intended for institutional investors for an amount of 500 million euros and expiry 7 years under its Guaranteed Banking Bond program (BPM Covered Bond 2) from
10 billion euros.
This is the second issue of European Covered Bond (Premium) issued by Banco BPM during 2024.
The stock, which will be listed on the Luxembourg Stock Exchange, has an expected rating of Aa3 (Moody’s). This public issue of covered bonds has a yield equal to the reference mid-swap rate +58 basis points, a fixed rate coupon of 3.25% and maturity on 28 May 2031.
Confirming the high interest in the Group on the part of Italian and foreign investors, the issue collected orders for over 1.6 billion euros allocated with the following geographical breakdown: Italy 26%, United Kingdom and Ireland 24%, Denmark 14%, Germany 13%, Spain 7%, Holland 6%, France 3%, other countries 7%. The investors who participated in the operation were mainly funds/asset managers (46%) and banks (44%).
Banca Akros (related party of the issuer), Commerzbank, Credit Agricole CIB, Erste Group, IMI-Intesa Sanpaolo, Natixis and Unicredit acted as Joint Bookrunners of the issue.