DBRS assigns Intesa Sanpaolo bonds A

DBRS said it assigned A (high) ratings to series 41 and 42 obbligazioni bancarie garantite (OBG or the Italian legislative covered bonds) issued under the Intesa Sanpaolo SpA’s covered bonds program.

Each series is a €2.40 billion floating-rate bond linked to three-month Euribor + 0.72%. Series 41 will mature in February 2035 and series 42 in August 2035. As with all other series issued under the program, both series will benefit from a 12-month maturity extension, DBRS said.

All covered bonds issued under the program rank pari passu with each other and are currently rated A (high) by DBRS, the agency said.

© 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.