Today, Banca Intesa launched on the international markets a 750 million euro bond issue under its Medium Term Notes programme.
It is a seven-year, Senior, floating rate Euro Medium Term Notes issue with a quarterly coupon of three-month Euribor plus 17.5 basis points.
The re-offer price is 99.904%.
Considering that it was re-offered below par, the total discount margin for the investor is three-month Euribor plus 19 basis points.
Settlement is due on 11th April 2006.
The bond is not offered to the Italian retail market; it is distributed to international institutional investors and financial institutions. It will be listed on the Luxembourg Stock Exchange and, as usual, traded in the Over-the-Counter.
Banca Caboto, ABN Amro and Royal Bank of Scotland act as lead managers for the placement of the bond.
The ratings assigned to Banca Intesa’s senior long-term debt are: A1 by Moody’s, A+ by Standard & Poor’s and A+ by Fitch.