2023-11-17 10:08:08
(Alliance News) – Banco BPM Spa announced on Friday a cash repurchase offer of all or part of its perpetual bond of 300 million euros, with a coupon of 8.750% and a total nominal amount outstanding of 300 million euros euros.
In addition, the bank also announced the launch of a new issue of a fixed and reset rate Additional Tier 1 perpetual bond with a nominal amount of €300 million.
The offer, which is made at the same time as the issuance of the new bonds, “is in line with the offeror’s proactive capital management,” the bank said in a note. Additionally, the offering provides liquidity to participating investors, while giving those same investors the opportunity to reinvest their funds in the new securities.
The offer will end at 1700 CET on November 24.
The new securities will be listed on the Luxembourg Stock Exchange, admitted to trading on the Euro MTF market of the Luxembourg Stock Exchange and will be rated by rating agencies.
Banco BPM shares are up 1.7%, at 5.34 euros per share.
By Chiara Bruschi, journalist at Alliance News
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