Banco BPM has successfully completed a new Green Senior Non Preferred issue, with a maturity of five years and two months with the possibility of early redemption in January 2027, for an amount equal to 500 million euros.
Orders reached 1.2 billion euros, confirming the recognition by investors of the Banco BPM name, even in periods of high market volatility.
The bond was issued at a price of 99.623% and pays a fixed coupon of 6%.
The bond, which is reserved for institutional investors, was issued under the issuer’s Euro Medium Term Notes Program and has an expected rating of Ba2 / BB + / BBBL (Moody’s / Fitch / DBRS).
The proceeds from the bond issue will be used to finance and / or refinance Eligible Green Loans, as defined in the bank’s Green, Social and Sustainability Bond Framework.
This is the fourth issue under the Green, Social and Sustainability Bond Framework after that of the Social Bond of July 2021 for an amount of € 500 million, of the first € 750 million Green Covered Bond placed in March 2022 and of the first Green Senior Non Preferred Bond of 500 million euro placed in September 2022.
Banco BPM has obtained on its Framework a certification provided by Institutional Shareholder Services ESG (ISS ESG) as an independent entity with environmental, social and sustainability expertise: Second Party Opinion (SPO).