The closing of CDP’s third US dollar bond issue, completed on October 1, confirms the success of a transaction that secured Cassa Depositi e Prestiti the record for the highest level of orders ever achieved by an Italian issuer in the Yankee Bond market. This also ranks as the third-best result across all issuers globally in the same market segment.1
The $1.5 billion bond, launched on 24 September 2025 and aimed at institutional investors both in the US and internationally, drew unprecedented demand with orders nearly 13 times the offer, reaching $19 billion. Geographic diversification was particularly strong: more than 250 investors took part, with 85% coming from over 23 different foreign countries including the United States (39%), the United Kingdom (17%), Northern Europe (12%) and the Middle East (10%).
Also notable was the quality of the investor base, with over 98% of demand allocated to long-term institutional investors such as banks, asset managers, insurances, pension funds and European and supranational institutions.
1(Based on Bloomberg data and proprietary data from the underwriters banks)