The Banco Popolare successfully placed with institutional investors a senior bond five years of their program EMTN amounting to 1 billion euro. The transaction, initially announced with an indication of return of 5-year mid swap rate plus a spread of 260 basis points, was priced at mid swap rate + 240 basis points “due to the high amount of demand, the numerous orders registered (above 350 for a total amount greater than 4.5 billion euro) and to its excellent quality, with a particularly significant participation and qualified asset managers, banks and insurance companies of international standing “, emphasizes the note of ‘ Verona Institute.
The most significant allocations concerned investors in European countries, in particular the United Kingdom (about 45%), Germany and Austria (about 6%), France (about 6%), Spain and Portugal ( about 4.5%), Switzerland (about 4%), in addition to those of the domestic market (about 23%). The funds raised, which will be allocated to current business management, will help boost the already excellent liquidity position of the Group and the extension of the maturity of the debt.
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