BANCA MPS: ISSUE OF SENIOR PREFERRED BOND SUCCESSFULLY COMPLETED FOR EUR 750 MILLION
Siena, 01 December 2020 - Banca Monte dei Paschi di Siena has successfully completed the issue of a fixed-rate Senior Preferred unsecured bond with a maturity of 5 years and a size of EUR 750 million, reserved to institutional investors.
The issue had an order-book of c. EUR 1.7 billion from more than 160 investors. Thanks to the strong demand the initial price guidance of about 2.25% - 2.30% was tightened towards the final yield, set at 1.963%.
The bond was placed with Asset Managers (61%), Banks (18%), Hedge Funds (13%) and others (8%). The geographical breakdown was the following: UK (39%), Italy (33%), other countries (28%).
The bond, documented under BMPS’ Debt Issuance Programme, with expected Caa1 (Moody's) / B (Fitch) / B(high) (DBRS) ratings, will be listed on the Luxembourg Stock Exchange.
Credit Suisse, Deutsche Bank, IMI-Intesa Sanpaolo, MPS Capital Services and Société Générale managed the placement, acting as Joint Bookrunners.