New Issue: Italy’s Intesa Sanpaolo prices $3 billion of 10-, 30-year notes

By William Gullotti and Cristal Cody

Buffalo, N.Y., Nov. 21 – Intesa Sanpaolo SpA priced a two-part offering of notes on Monday totaling $3 billion, according to information provided by a market source.

The deal included $1.5 billion of 7.2% notes with a 10-year tenor. The notes priced at Treasuries plus 280 basis points after starting with initial talk in the 310 bps area.

The second part of the offering was for $1.5 billion of 7.8% 30-year notes. Pricing was at Treasuries plus 325 bps. Initial talk was in the 345 bps area.

BofA Securities, Barclays, Citigroup, Goldman Sachs, HSBC, IMI Intesa Sanpaolo, JPMorgan, Morgan Stanley, TD Securities and Wells Fargo Securities are the bookrunners.

The financial services company is based in Turin, Italy.

Issuer:	Intesa Sanpaolo SpA
Amount:	$3 billion
Issue:	Notes
Bookrunners:	BofA Securities, Barclays, Citigroup, Goldman Sachs, HSBC, IMI Intesa Sanpaolo, JPMorgan, Morgan Stanley, TD Securities and Wells Fargo Securities
Trade date:	Nov. 20
10-year notes
Amount:	$1.5 billion
Maturity:	Nov. 28, 2033
Coupon:	7.2%
Spread:	Treasuries plus 280 bps
Price talk:	Treasuries plus 310 bps area
30-year notes
Amount:	$1.5 billion
Maturity:	Nov. 28, 2053
Coupon:	7.8%
Spread:	Treasuries plus 325 bps
Price talk:	Treasuries plus 345 bps area

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