Banca Ifis completes issue of 300 million Euro bond maturing in 5 years

SDIR: REGEM

Finance

Milan, 7 September 2023 – Banca Ifis completed the placement of a 300 million Euro senior preferred bond issue aimed at institutional investors. The transaction is part of the Euro 5bn EMTN issuance programme, as envisaged in the Bank’s Business Plan for the three-year period 2022-24.

In detail, the bond issue has a term of five years, with a settlement date of 13 September 2023 and maturity on 13 September 2028. The reoffer price was set at par, with an annually payable coupon of 6.875%. The bond will be listed on the Luxembourg Stock Exchange and has an expected rating of Baa3 by Moody’s and BB+ by Fitch.

In the transaction, Banca Ifis was supported by Barclays, Citi, Deutsche Bank (B&D), IMI-Intesa Sanpaolo and Société Générale as joint bookrunners. Bonelli Erede provided legal assistance to Banca Ifis, while Clifford Chance supported the banks acting as joint bookrunners.

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