Chicago, Dec. 1 – illimity Bank SpA priced €300 million in 6 5/8% senior preferred three-year bonds (//BB-), according to a market source.
The notes, which priced on Thursday at par, came at a 394.6 basis points spread to mid-swaps.
Initial price talk was in the 7% area, revised during pricing to 6¾% plus or minus 1/8%. At guidance, books were above €500 million.
BNP Paribas, Goldman Sachs International and IMI - Intesa Sanpaolo were the bookrunners.
Proceeds will be used for general corporate and financing purposes.
The notes will be listed on the Luxembourg Stock Exchange.
illimity Bank is an Italian digital bank based in Milan.
| Issuer: | illimity Bank SpA
|
| Amount: | €300 million
|
| Issue: | Senior preferred notes
|
| Maturity: | Dec. 9, 2025
|
| Bookrunners: | BNP Paribas, Goldman Sachs International and IMI - Intesa Sanpaolo
|
| Coupon: | 6 5/8%
|
| Price: | Par
|
| Yield: | 6 5/8%
|
| Spread: | Mid-swaps plus 394.6 bps
|
| Trade date: | Dec. 1
|
| Settlement date: | Dec. 9
|
| Ratings: | Fitch: BB-
|
| Distribution: | Regulation S
|
| Price talk: | 7% area
|
| ISIN: | XS2564398753
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
