Mediobanca successfully completes the issue of a 5Y €750M senior preferred bond

Mediobanca has today successfully completed the placement of a five-year senior preferred bond expiring in March 2028 with a call option after year 4 for a total amount of €750m.

The senior preferred bond, priced at 4.865%, corresponding to MS +137 bps, among the most competitive sector levels, has raised orders worth over €1.75bn in the course of the placement.

Some of the leading institutional investors in the Italian and European panorama took part in the placement, with a high quality book.

The deal recorded the highest size of any institutional senior preferred bond issued by Mediobanca since 2017, further testimony to the Group’s high funding capacity, having tapped the market for more than €11.5bn in the last 12M, at spreads in line with those seen before the outbreak of the Ukraine-Russia conflict and the sudden rise in interest rates.

The issue is the second benchmark bond issued by Mediobanca in 2023, after the €300m 10Y subordinated Tier 2 bond with call option after year 5, issued in February and dedicated to Mediobanca Private Banking investors.

Milan, 7 March 2023