BPER Banca successfully places Euro 500 mln senior non-preferred bond issuance

BPER Banca (issuer rating Ba1/BB+/BBB) has successfully placed its inaugural fixed-to-floating Senior Non-Preferred Bond issuance for an amount of EUR 500 million with 5-year maturity and a call after year 4, targeting institutional investors. The issuance follows a book building process that gathered strong demand for more than EUR 2 billion from 200 investors globally. Thanks to this, the initial guidance of 400 bps over the 4-year mid-swap rate has been revised downwards to 360bps, resulting in a fixed coupon of 6.125% paid annually, with a re-offer price of 99.847%.