Investing.com – Banco Bpm (BIT:) has concluded the placement of a new 500 million covered bond issue with a 7-year maturity, collecting over 1.6 billion orders.
The stock, intended for institutional investors, will be listed on the Luxembourg Stock Exchange and has an expected rating of Aa3 (Moody’s).
This is the second issue of European Covered Bond (Premium) issued by Banco BPM during 2024.
The issue has a yield equal to the reference mid-swap rate + 58 basis points, a fixed rate coupon of 3.25% and maturity on May 28, 2031.
As regards the geographical distribution, 26% of orders come from Italy, the United Kingdom and Ireland represent 24% of the demand, Denmark 14%, Germany 13%, Spain 7%, Holland 6%, France 3%, others Countries 7%.
The investors who participated in the operation were mainly funds/asset managers (46%) and banks (44%).
Banca Akros (as a related party of the issuer), Commerzbank (ETR:), Credit Agricole (EPA:) CIB, Erste Group, IMIIntesa Sanpaolo, Natixis and Unicredit (BIT:) acted as Joint Bookrunners of the issue.
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