Banca Monte dei Paschi di Siena announced that it has “successfully completed the placement of an unsecured Senior Preferred bond issue with
3-year maturity (repayable in advance after 2 years), intended for institutional investors, for an amount of 750 million euro”
MPS wrote in a note that “for the Bank, the issue represents a return to the market, with strong appreciation
of institutional bonds, more than two years after the last issue”.
The bond issue operation “has, in fact, received orders for around 1.6 billion euros from over 150
Italian and international investors”.
“Due to strong and well diversified demand, MPS has set the coupon at a final level of 6.75%, well below the initial range of 7%-7.125%. The bond was placed with various types of institutional investors, such as Fund Managers, Banks and Private Banks, with the following geographical breakdown: Italy (36%), United Kingdom and Ireland (52%) and other countries (12%)”.
Mps specified that “the bond, issued under the Debt Issuance Program EMTN of BMPS, with expected rating of B1 (Moody’s) / B+ (Fitch) / B(high) (DBRS), will be listed on the Luxembourg Stock Exchange ”.
“Barclays, Mediobanca, MPS Capital Services, NatWest Markets, Santander and Société Générale handled the placement as Joint Bookrunners”.