Today, Mediobanca has successfully completed the placement of a five-year covered bond for a total amount of €500m.
The covered bond received orders for up to €570m, which allowed to reach the target size of €500m, pricing at MS+43 bps with a yield of 2.411%.
Despite the high volatility in the market, exacerbated by the negative macro data released during the morning, the positive book-building process gathered the participation of all leading institutional investors in the Italian and European scenario, a further testament of Mediobanca’s established position as issuer at continental level.
Today's transaction confirms the Group's continued ability to have access to broad and diversified funding channels even in a context of high macroeconomic and geopolitical uncertainty, as the current one.
The covered bond segment saw record volumes in this first part of the year when it registered issues of euro-denominated covered bonds totalling nearly €120bn, including €2.75bn in Italy, compared to a total of €98bn across all of 2021.
Mediobanca acted as Joint Bookrunner of the transaction and Sole Arranger of the Covered Bond Program.
Fitch has assigned AA rating to the issue.
Milan, 23 June 2022