Banca Popolare di Sondrio inaugural € 500m 6NC5 Green Senior Preferred

In July Banca Popolare di Sondrio decided to tap the market with its debut € 500m Green Senior Preferred Bond.

The Bank has identified an asset pool amounting to € 406m (81% of the bond size), mainly composed by Green Buildings (Mortgages – 46% of the pool – and Super/Ecobonus – 19%) and Renewable Energy (28%).

The € 500m 6NC5 Senior Preferred bond was eventually priced at MS+160bps (20bps inside the IPTs) with an oversubscription above 1.5x.

Mediobanca has assisted BPS as Joint Structuring Advisor in the drafting of the new Green Bond Framework, allowing the Bank to fast forward the process and complete it in just 4 weeks since our appointment at the end of May.

This is the very first bond mandate awarded to Mediobanca by BPS.