Banca Ifis completes issue of 400 million Euro bond maturing in 5 years

SDIR: REGEM

Finance

Mestre (Venice), 20 February 2024 – Banca Ifis completed the placement of a 400 million Euro Senior Preferred Unsecured bond as part of its EMTN emissions program for an amount of 400 million Euros. The issue is aimed at institutional investors.

In detail, the bond issue has a term of five years, with a settlement date of 27 February 2024. The reoffer price was set at 99.362 for a yield to maturity of 5.65% and a coupon payable annually of 5.50%. The bond will be listed on Euronext Milan and has an expected rating of BB+ by Fitch and Baa3 by Moody’s.

The transaction is part of the EMTN funding program, as envisaged in the Bank’s Business Plan for the three-year period 2022-24 which estimates 2.5 billion euros of new placements.

In the transaction, Banca Ifis was supported by BNP Paribas, Equita, Goldman Sachs International, Mediobanca, Santander and UniCredit as Joint Lead Managers bookrunners. Clifford Chance supported the Joint Lead Managers.

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