Poste returns to the market: 750 million euro bond positioned | EUROtoday

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Poste Italiane returns to the market with the launch of a senior unsecured bond subject denominated in Euro and geared toward institutional buyers, for a complete nominal quantity of 750 million euros carried out as a part of its 2.5 billion euro Euro Medium Term Notes (EMTN) programme. Poste Italiane communicated this in a be aware, specifying that «the difficulty was very properly obtained, with a requirement for greater than 3 times the securities provided and a excessive curiosity from worldwide buyers primarily coming from France, Benelux, Germany and Austria».

The objective

The operation is geared toward diversifying sources of financing and increasing the investor base. The proceeds of the brand new subject will probably be used for basic company functions. The anticipated score of the difficulty is Bbb+ by Standard and Poor’s (S&P), Baa2 by Moody’s and BBB+ by Scope.

The principal situations of the difficulty are: whole nominal worth 750 million euros; expiry: 5 years (3 December 2030); 3% annual coupon; subject value: 99.7940%; yield: 3.045%. The settlement date of the bonds is scheduled for 3 December 2025, the date on which the bonds will probably be listed on the regulated market of the Luxembourg Stock Exchange and on the Mercato Telematico delle Obligazioni (Mot) of the Italian Stock Exchange.

The bonds have been positioned by a consortium of banks composed of: Barclays, Bnp Paribas, BofA Securities, Citigroup, Crédit Agricole CIB, Deutsche Bank, Imi-Intesa Sanpaolo, ING, Mediobanca, Morgan Stanley, Société Générale and UniCredit, performing as Joint Bookrunners. Deutsche Bank AG will act as paying agent.