Success for the issue of Piazzetta Cuccia
Mediobanca successfully completed the placement of a Senior Preferred Bond with a 5-year maturity (March 2028) and a call option expected after 4 years for a total amount of Euro 750 million.
The Senior Preferred Bond, priced at one of the most competitive levels in the sector equal to 4.865%, corresponding to MS+137bps, recorded orders for over 1.75 billion euro during the placement.
The main institutional investors on the Italian and European scene took part in the placement, with high quality books.
Never like this since 2017
The operation has thus achieved the highest size issued by Mediobanca since 2017 for a senior preferred institutional, reflecting the high funding capacity of the group with over 11.5 billion euro raised on the market in the last 12 months, with a spread in line with those prior to the outbreak of the Ukrainian crisis and the sudden rise in interest rates .
The issue is the second benchmark bond issued by Mediobanca in 2023, after the 300 million euro subordinated Tier2 with 10-year maturity and call after the first 5 years, issued in February and dedicated to Mediobanca Private Banking investors.
Telemarket