Press Release
BANCA MPS SUCCESSFULLY PLACES ITS FIRST EUR 500 MILLION GREEN SENIOR PREFERRED BOND
DEMAND FOR APPROX. EUR 2 BILLION FROM ITALIAN AND INTERNATIONAL INSTITUTIONAL INVESTORS
Siena, 13 November 2025 - Banca Monte dei Paschi di Siena S.p.A. (the “Bank” or “BMPS”) has successfully completed the placement of its first Green Senior Preferred Unsecured bond. The fixed-rate bond, with a maturity of 6 years and three months (due February 2032) and an early redemption option after five years, was issued for a total amount of EUR 500 million.
The transaction attracted strong interest from leading Italian and international investors, generating total orders of approximately 2 billion euros – 4 times the offer – confirming the market’s confidence in the path undertaken by BMPS, further reinforced by the success of the public offering concluded in September and the solid results achieved in the third quarter of the year, as demonstrated by the solid results achieved in the third quarter of the year and the entry of Mediobanca into the Montepaschi Group following the voluntary public tender and exchange offer concluded in September.
The annual fixed coupon is set at 3.25%, with a re-offer price of 99.647%, corresponding to a spread of 90 basis points over the mid-swap rate – below the initial guidance of 120 basis points and 40 basis points lower than the previous Senior Preferred Unsecured issuance in May of this year, which had a slightly shorter maturity. This further confirms the downward trend in the Bank's funding costs, boosted by the progressive improvement in its credit rating.
Investor demand was well diversified, both in terms of investor type and geographical distribution, with orders coming primarily from Italy 36%, DACH 17%, France 15%, Southern Europe countries 13% and Other Countries 19%, with good participation from investors with ESG objectives.
This new Green Senior Preferred Unsecured bond has been issued under the Euro Medium Term Note Debt Program, in line with the “2025 Funding Plan” and in compliance with its "2024 Green, Social and Sustainability Bond Framework." The proceeds from the issuance will be allocated to initiatives with positive environmental impacts, further strengthening the Bank's commitment to supporting the transition and pursuing sustainability objectives.
The bond will be issued in dematerialised form and settled through Euronext Securities Milan (Monte Titoli). The expected ratings are Baa3 from Moody's, BBB- from Fitch, and BBB from Morningstar DBRS. The bond will be listed on the Luxembourg Stock Exchange.
The joint lead managers and bookrunners for the transaction are: BBVA, Deutsche Bank, HSBC, JPMorgan, Mediobanca, Natixis, and NatWest.
