(Tiper Stock Exchange) – Deposits and Loans Fund debuted on the American capital market with the “Yankee Bond”his first bond issue denominated in dollarsfor a total amount equal to 1 billion USD.
The first Yankee Bond issued by CDP registered a significant interest from the financial marketsthe: the demand, equal to about 3.8 billionwas in fact almost 4 times higher than the offer with orders from more than 120 investors. The placement of the bond in US currency saw a significant participation of iAmerican investors, for more than 45% on a total participation of foreign investors equal to 76%.
the emission, reserved for institutional investors residents of both the United States of America and outside, has a gross annual coupon equal to 5.750% and a deadline of 3 years.
Through this operation, CDP continues the diversification strategy of its sources of collectionae strengthens its activity in support of exports of Italian companies. The inaugural dollar bond constitutes the first entry into the US bond marketin line with CDP’s strategy aimed at attracting foreign capital and broadening the investor base.
The ratings of securities is expected to be BBB for S&P and for Fitch.
The operation has involved a syndicate of banks, in which the following acted as Joint Bookrunners: BNP Paribas, BofA Securities, Citi, Goldman Sachs International, HSBC, IMI – Intesa Sanpaolo, JP Morgan, Morgan Stanley and Société Générale. Citi and JP Morgan also acted as Global Coordinators of the transaction.