Allen & Overy advises on the ‘premium’ covered bond issued by Banca Popolare di Sondrio
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Allen & Overy has advised financial institutions – Intesa Sanpaolo (IMI CIB division) and UniCredit acting as global coordinators, and Banco Santander, Landesbank Baden-Württemberg, Société Générale and Raiffeisen Bank International as joint bookrunners – on the issuance by Banca Popolare di Sondrio of a covered bond for a total nominal value of EUR500 million, with maturity in 2029.
The bond was issued in the context of the EUR5 billion covered bond issuance programme, guaranteed by POPSO Covered Bond.
The covered bond achieved the ‘Premium’ label pursuant to the new Italian and European legislation that regulates the issuance of covered banking bonds.
The A&O team was led by partner Pietro Bellone, with the support of associate Aldo Brombin Tuzzato.