(Finance) – BPER Bank has concluded the placement of one Senior Non Preferred bond issue for an amount of 500 million euroswith a maturity of 6 years and the possibility of early repayment (call) after 5 years, intended for institutional investors. This is the first Italian bank issue, in the unsecured sector, carried out in 2025, we read in a note.
The issue has collected orders up to approximately 2.7 billion euros by 145 investors. The solid and well-diversified demand made it possible to reduce the spread level, initially indicated in the 165 bps area above the 5-year mid-swap, to 130 bps. Consequently, the annual coupon was determined to be equal to 3.625%, with issue price/ re-offer of 99.771%.
The final allocation was mainly intended for investment funds (58.7%) and Banks & Private Banking (30.9%). The geographical distribution saw the presence of foreign investors – including France (30.9%), United Kingdom (16.9%), Nordics (18.9%) – and Italians (20.9%).
UBS, Quote, Goldman Sachs, HSBC, JP Morgan, UniCredit acted as Joint Bookrunner of the placement. The issue will be listed at Luxembourg Stock Exchange.