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Allen & Overy advises on EUR500 million Senior Non-Preferred dematerialised bond by Mediobanca

Published Date
Mar 21, 2024
Mediobanca has completed the placement of a Senior Non-Preferred bonds (intended to be classified as second level unsecured debt instruments pursuant to the Consolidated Law on Banking “TUB”) for a nominal value of EUR500 million and maturity 4 July 2030.  The bond has a call option at 4 July 2029 and is intended for institutional investors. Il bond is dematerialised and centralised with Euronext Securities Milan (Monte Titoli).

The bond will pay an annual fixed coupon of 3.875% until 4 July 2029. From that date, if an early call has not occurred, until the maturity date, the coupon will be quarterly and equal to the 3-month Euribor with +1.3% increase p.a.. The bond is issued under EUR40 billion Mediobanca Euro Medium Term Note (EMTN) Programme and admitted to listing on Euronext Dublin.

Allen & Overy advised Mediobanca and banks acting as Joint Lead Managers - Crédit Agricole CIB, IMI-Intesa Sanpaolo, Mediobanca, Santander and UniCredit – with a team led by partner Cristiano Tommasi and counsel Emiliano La Sala, supported byt associate Edoardo Brugnoli and trainee Francesco Laurenti. Counsel Elia Ferdinando Clarizia advised on tax aspects. 

 
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This content was originally published by Allen & Overy before the A&O Shearman merger

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