Mediobanca has successfully completed the issue of a 6Y €750M Covered Bond

Mediobanca has successfully completed the placement of a new covered bond with a six-year long duration (expiring in February 2032) for a total amount of €750m.

The covered bond has attracted broad and diversified appeal, enabling the yield initially disclosed (52 bps above mid-swap) to be revised and set at 45 bps. Orders of approx. €3.3bn were received during the placement, for a total value of more than 4x the target amount of €750m.

The new issue, which will pay a coupon of 2.875%, is Mediobanca's fourth covered bond since the start of 2025, guaranteeing ongoing access to the market at low spreads.

The bond's distribution has seen the involvement of leading international institutional investors (77%, with orders in particular from Germany, Austria and Switzerland accounting for 42%, from the Nordic Area for 11%, and from Belgium, Luxembourg and the Netherlands for 14%), and Italian investors (orders accounting for 23%). The results of this new issue confirm the importance of adopting a flexible approach to diversifying funding sources, plus the market's appreciation of the issuer.

Milan, 18 November 2025