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FinecoBank
Capital/Financing Update • Feb 16, 2023
4321_tar_2023-02-16_06d355a2-3d4e-4edb-8c56-53e4202e5d65.pdf
Capital/Financing Update
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| Informazione Regolamentata n. 1615-15-2023 |
Data/Ora Ricezione 16 Febbraio 2023 17:10:07 |
Euronext Milan | ||
|---|---|---|---|---|
| Societa' | : | FINECOBANK | ||
| Identificativo Informazione Regolamentata |
: | 172541 | ||
| Nome utilizzatore | : | FINECOBANKN02 - Spolini | ||
| Tipologia | : | 2.2 | ||
| Data/Ora Ricezione | : | 16 Febbraio 2023 17:10:07 | ||
| Data/Ora Inizio Diffusione presunta |
: | 16 Febbraio 2023 17:10:08 | ||
| Oggetto | : | bond | PR_FinecoBank issuance Senior Preferred | |
| Testo del comunicato |
Vedi allegato.
PRESS RELEASE
FinecoBank successfully places a €300 million Senior Preferred bond. Demand is 4x the offer.
Milan, 16 February 2023
FinecoBank informs thatit has successfully completed the placement of its second issuance on the market of Senior Preferred notes, intended for qualified investors, for a total amount of €300 million and a coupon equal to 4.625% for the first 5 years (with a spread equal to 5 years Mid Swap rate plus 150 basis points) compared to an initial guidance of 5 years Mid Swap rate plus 175 basis points. The final spread represents the lowest level so far in 2023 for this type of instrument in the Italian scenario, thanks to an overall demand that is 4x the supply and to the quality of the credit.
The issuance registered an order volume equal to €1.2 billion, confirming the appreciation shown by the market towards FinecoBank also in the fixed-income segment. The placement allows the Bank to have an additional buffer above MREL LRE fully loaded requirement.
Only institutional investors took part in the placement, mainly asset managers (71% of the total) and banks/private banks (19%). The issuance was placed mainly with institutional investors in Italy (36%), the United Kingdom (26%), France (16%), Germany and Austria (16%).
In detail, the issuance has the following characteristics: 6 years maturity with call option for the issuer on the fifth year, public placement, intended for trading on the regulated market managed by Euronext Dublin, BBB rating (S&P Global Ratings), fixed rate annual coupon for the first 5 years, floating rate between the fifth and sixth year. The notes have been issued under the EMTN1 programme (Euro Medium Term Notes).
BNP Paribas, Société Generale and UniCredit Bank AG acted as joint bookrunners and joint lead managers.
1 EMTN Programme (European Medium Term Notes) has been approved by Fineco's Board of Directors on December 15th 2022, and has been signed on February 13th 2023. It is available for consultation on the Bank website (Fixed Income section).
FinecoBank
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FinecoBank is one of the leading FinTech banks in Europe. Listed on the FTSE MIB, Fineco offers a unique business model in Europe, combining the best platforms with a large network of financial advisors. It offers banking, credit, trading and investment services from a single account through transactional and advisory platforms developed with proprietary technologies. Fineco is a leader in brokerage in Europe, and one of the most important players in Private Banking in Italy, with advanced and highly personalized advisory services. Since 2017, FinecoBank has also been active in the UK, with an offering focused on brokerage, banking and investment services. In 2018, Fineco Asset Management was founded in Dublin, whose mission is to develop investment solutions in partnership with the best international managers.
Contatti: Fineco - Media Relations Fineco - Investor Relations Tel.: +39 02 2887 2256 Tel. +39 02 2887 3736/2358
[email protected] [email protected]
Barabino & Partners Tel. +39 02 72023535 Emma Ascani [email protected] +39 335 390 334