Mediobanca has stepped up the diversification of its sources of funding with the successful completion of its first €50m Italian commercial paper issue, as part of a Multi-Currency Commercial Paper Programme (rated F3 by Fitch, A-2 by S&P, and P-2 by Moody’s).
The issue has been subscribed for by institutional investors.
The use of commercial papers as a short-term funding instrument is consistent with the implementation of Italian Decree Law 34/2020 (the “Relaunch Decree”), which introduced the possibility for banks as well as other issuers to issue this type of instrument, and will allow Mediobanca to raise funds at money market maturities.
The progremme is admitted to trading on the ExtraMOT PRO, the professional segment of the ExtraMOT market, a Multilateral Trading Facility operated by Borsa Italiana S.p.A., in accordance with the criteria and requirements set forth in the Market Convention on Short-Term European Paper (STEP), and after obtaining the relevant certification of compliance (STEP Label). The commercial paper will be issued in dematerialized form in the centralized system managed by Monte Titoli S.p.A.
Milan, 24 February 2023