(Finance) – Intesa Sanpaolo has successfully placed a new Senior Non Preferred Green Bond on the institutional market, from 1 billion euros at a level equal to mid swap + 250bps, coupon of 4.750% and value date 6 September.
The order book has exceeded 2.3 billion euros, collecting the interest of around 200 investors and allowing a narrowing with respect to the initial spread. In detail, around 74% of Fund Managers, 15% of Banks and Private Banks, 10% of Insurance and Pension Funds participated.
The geographical distribution of the accounts shows around 24% from Italy, 22% from France, 19% from Germany, 14% from the United Kingdom, 6% from Spain, 6% Benelux, 4% Nordic and 3% Switzerland / Austria. The order book was therefore very granular and saw the participation of over two thirds of investors dedicated to the ESG sector.
Intesa Sanpaolo’s new green bond follows three previous Senior Preferred issues finalized in 2017, 2019 and 2021 which respectively had a focus on renewable energy, the circular economy and ecological buildings.
The Banks that participated in the placement as Joint book runners were – in addition to Imi-Intesa Sanpaolo – Credit Agricole Cib, Deutsche Bank, Ing, Mediobanca, Natwest Markets and Societè Generale.
(Photo: © Roman Babakin / 123RF)