BANCA MPS: ISSUE OF SENIOR PREFERRED BOND SUCCESSFULLY COMPLETED FOR EUR 750 MILLION
ORDER-BOOK FOR AROUND 1.6 BILLION EURO VS. AN INITIAL OFFERING OF EUR 500 MILLION
Siena, 23 February 2023 - Banca Monte dei Paschi di Siena has successfully completed the issue of a Senior Preferred unsecured bond, with a 3-year maturity (callable after 2 years), reserved to institutional investors, for a size of EUR 750 million.
The issue represents a successful return of MPS to the institutional market, more than two years after the last issue.
The deal has in fact collected orders for about EUR 1.6 billion from over 150 Italian and foreign investors.
Thanks to the strong and truly diversified demand, MPS has set the final yield at 6.75%, well below the initial range of 7% - 7.125%.
The bond was placed across various institutional investor categories, such as Fund Managers, Banks and Private Banks, with the following geographical breakdown: Italy (36%), United Kingdom and Ireland (52%) and other countries (12%).
The bond, documented under BMPS’ EMTN Debt Issuance Programme, with expected B1 (Moody's) / B+ (Fitch) / B(high) (DBRS) ratings, will be listed on the Luxembourg Stock Exchange.
Barclays, Mediobanca, MPS Capital Services, NatWest Markets, Santander and Société Générale managed the placement, acting as Joint Bookrunners.