(Telestock) – Deposits and Loans Fund (CDP) has successfully concluded abond issueof the nominal value of 750 million eurosfixed rate, non-subordinated and reserved for institutional investors.
The bond has a duration of 7 years (expires in July 2031) and provides for a 3.875% annual couponThe bond was issued under the Debt Issuance Programme (DIP), CDP’s medium-long term issuance programme amounting to 15 billion euros, listed on Euronext Dublin and intended for institutional investors.
There requestof over 2.6 billion euros, was approximately 3.5 times the offer, with orders coming from approximately 100 investors. The final allocation saw the participation of 45% Italian investors and 55% foreign investors, in particular from Germany/Austria/Switzerland (16%), Spain and Portugal (15%) and France (13%).
The proceeds from this new issue will be used by CDP to continue the own business to support the country’s development, a note reads.
The medium-long term rating of the securities for which an application has been made for admission to trading on the Dublin Stock Exchangeis expected to be BBB by S&P, BBB by Fitch and BBB+ by Scope.
Akros Bank, Monte dei Paschi di Siena Bank, BPER, Credit Agricole, Deutsche Bank, Intesa Sanpaolo, Morgan Stanley And UniCredit they acted as Joint Lead Managers and Joint Bookrunners of the operation.