The fixed-rate bond has a maturity of 7 years, with a coupon of 4.75%
Demand was around four times the supply
Rome, 11 October 2023 - Cassa Depositi e Prestiti Spa (CDP) today successfully concluded a bond issue, with a nominal value of 500 million euro, at a fixed rate, unsubordinated and reserved for institutional investors.
The bond has a maturity of seven years (due in October 2030) and carries an annual coupon of 4.75%. The bond was issued as part of the Debt Issuance Programme (DIP), CDP's 15 billion euro medium-to-long-term issuance programme, listed on Euronext Dublin and targeted to institutional investors.
With this transaction, CDP has consolidated its presence on the capital markets and confirmed its ability to attract institutional investors. Demand, at over 1.9 billion euro, was in fact around four times the supply, with orders coming from around 70 investors. The transaction attracted particular interest in both the domestic and foreign markets: 57% of the total placement amount was allocated abroad. The proceeds from this new issue will be used by Cassa Depositi e Prestiti to continue its activities in support of the Country's development.
The medium/long-term rating of the securities, whose admission to trading on the Dublin Stock Exchange has been applied for, is expected to be BBB for S&P, BBB for Fitch and BBB+ for Scope.
Banca Akros – Banco BPM Group, BNP Paribas, Citi, Intesa Sanpaolo (IMI CIB Division), Nomura, Santander, and UniCredit have acted as Joint Lead Managers and Joint Bookrunners for this transaction.