Mediobanca has successfully completed the issue of a new €500M Senior Preferred Bond

Mediobanca has successfully completed the placement of a new Senior Preferred Bond with 6-year duration (expiring in January 2031) and call option after year 5, for a total amount of €500m.

The Senior Preferred Bond has attracted broad and diversified appeal, enabling the yield initially disclosed (115 bps above mid-swap) to be revised and set at 85 bps.
Orders in excess of €1.9bn were received during the placement, for a total value of almost 4x the target amount of €500m.

The new bond issue will pay a 3% coupon, and is Mediobanca's second public issue for institutional investors already in FY 2024-25, and its fifth since the start of 2024.
With this issue Mediobanca has consolidated its position as one of the best Italian banks in terms of efficiency of pricing for its debt instruments. The result also confirms investors’ confidence in the Bank’s capability to deliver on the targets it has set in its 2023-26 Strategic Plan “One Brand-One Culture”.

The bond's distribution has seen the involvement of the leading international institutional investors (64%, with orders from France in particular accounting for 20%, from Germany, Austria and Switzerland for  20%, from the United Kingdom and Ireland for 13%, and from the Iberian peninsula for 9%) and Italian institutional investors (orders accounting for 36%). The performance of this issue confirms once again investors’ appreciation and Mediobanca's capability to diversify its sources of funding.

Milan, 28 October 2024