Demand oversubscribed by over 4 times, with participation from more than 80 institutional investors
The fixed-rate bond has a 5-year maturity and carries a 3.250% coupon
Rome, 27 May 2026 – Cassa Depositi e Prestiti (CDP) has successfully placed a new bond issue with a nominal value of 750 million euro, reserved for institutional investors.
The 5-year issue attracted significant market interest, with orders reaching 3.6 billion euro, more than four times the offer, from over 80 investors.
The transaction aligns with the 2025-2027 Strategic Plan, which includes among its key objectives the strengthening of access to the capital markets and the diversification and expansion of the investor base. The participation from foreign investors was remarkable, accounting for 93% of the total allocation. The transaction also recorded one of the broadest geographical diversifications ever achieved, with orders coming from the United Kingdom (21%), Iberia (14%), France (14%), DACH (11%), Netherlands and Luxembourg (11%), Nordics (8%), Asia (6%), Middle East (5%) and Greece (1%).
The bond was issued under CDP’s Debt Issuance Programme (DIP), the 15-billion-euro medium-to-long-term issuance programme, listed on Borsa Italiana and dedicated to institutional investors. The proceeds will be used to further support CDP’s mission to foster the Country’s sustainable development.
The bond, with a five-year maturity (maturing in June 2031), carries a fixed annual gross coupon of 3.250%. The expected rating of the issuance is BBB+ from S&P, BBB+ from Fitch and BBB+ from Scope.
Banca Akros, BNP Paribas, Deutsche Bank, Goldman Sachs International, Intesa Sanpaolo (IMI CIB Division), Santander and UniCredit acted as Joint Bookrunners for the transaction.