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Allen & Overy advises on Mediocredito Centrale Tier 2 bond

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Tommasi Cristiano
Cristiano Tommasi

Partner

Rome

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Byrne Craig
Craig Byrne

Partner

Milan

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Sarah Capella

Senior Associate

Rome

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Elia Ferdinando Clarizia

Counsel

Milan

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Cristina Canepone

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Milan

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30 December 2022

Mediocredito Centrale - Banca del Mezzogiorno S.p.A., indirectly controlled by the Italian Ministry of Economy and Finance through Invitalia, National Agency for the attraction of investments and enterprise development, has placed a subordinated Tier 2 bond issue for a nominal value of EUR70 million.

Allen & Overy advised the Joint Lead Managers in the transaction, Banca Akros and Intesa Sanpaolo - IMI Corporate & Investment Banking.

The bond has a maturity of 10 years and pays a fixed annual coupon at 10.5%, with a reimbursement option after five years. It is intended for qualified investors and is listed on the regulated market Euro MTF of the Luxembourg Stock Exchange.

The A&O team on the deal was led by International Capital Markets partners Cristiano Tommasi and Craig Byrne, supported by senior associate Sarah Capella and trainee Francesco Laurenti, with counsel Elia Ferdinando Clarizia and associate Lino Ziliotti advising on tax aspects.

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