First green bond issue by Mediobanca successfully completed

The inaugural issue of Mediobanca's senior preferred green bond dedicated to institutional investors and announced this morning has been completed successfully.

The €500m green bond, with a seven-year duration and a coupon of 1%, was priced at 99,564 with a spread of 135 bps over the midswap rate. The response from investors has been very positive, with orders amounting to over 3.5 billion with impressive geographical diversification, with the result that over 80% of the final amount has been distributed outside Italy.

Mediobanca CEO Alberto Nagel commented: “We have placed the sustainability of our business model at the centre of our strategic plan for 2023 by including non-financial targets in the strategic plan objectives. The success of this inaugural green bond demonstrates the degree to which investors appreciate a strategy which can combine economic performance and environmental and social sustainability.”

The bond is intended to finance or refinance projects which meet the “Green and Sustainable Bonds Framework” criteria approved by the Mediobanca Group in June 2020, in line with the United Nations Global Compact, to which the Bank adhered in 2018.

This issue confirms Mediobanca's commitment to reducing the direct and indirect impact of its business activity, by promoting ESG investment products, and through initiatives aimed at improving energy efficiency and reducing consumption, as provided in the 2019-23 strategic plan.

Sustainability is an integral part of the Group’s strategy that combines growth in business and financial solidity with social, environmental and economic sustainability, with the objective of creating value for all stakeholders over the long term.

Milan, 1 September 2020