CDP: euro 750 million bond issue closed successfull

Press release

CDP: euro 750 million bond issue closed successfull

Rome, 23 May 2014 - Cassa depositi e prestiti Spa (CDP) successfully closed today a fixed rate note issue, unsubordinated and unsecured, for a nominal amount of euro 750 million.

Rome, 23 May 2014 - Cassa depositi e prestiti Spa (CDP) successfully closed today a fixed rate note issue, unsubordinated and unsecured, for a nominal amount of euro 750 million.

The Notes – issued under CDP Euro Medium Term Note Programme listed on the Luxembourg Stock Exchangeand addressed to institutional investors – have 7 years maturity and pay a fixed annual coupon of 2.75%. The re-offer price is 99.799%.

The net proceeds deriving from this issue will be used by CDP to support the so-called “Separate Account”, that is all the activities which, under applicable regulations, may be funded also through Postal Savings (such as lending to Public Entities, support for the economy, public interest infrastructures).

The Notes, which will be listed on the Luxembourg Stock Exchange, have been rated BBB+ by Fitch, Baa2 by Moody’s and BBB by Standard & Poor’s.

Orders have been received from over 155 investors for an amount totalling about euro 1,550 million.

65% of the Notes was allocated to mutual funds and insurance companies and the remaining 35% to banks. As for the geographical distribution, 38% was allocated in Italy, 21% in France, 12% in Germany, 9% in UK, 4% in Spain, 4% in Switzerland  and the remaining 12% in other European and Asian countries.

Credit Agricole CIB, JP Morgan, Nomura, UBS e UniCredit Bank AG acted as Joint Lead Managers and Joint Bookrunners for the transaction.

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