Press release

CDP: euro 750 million bond issue closed successfully

Rome, 19 November 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, 19 November 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 are issued under the CDP Euro Medium Term Note Programme listed on the Luxembourg Stock Exchange and addressed to institutional investors, with maturity date January 26th, 2018 and a fixed annual coupon of 1%. The re-offer price is 99.987%.

The net proceeds 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 and financing infrastructure of public interest).

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 100 investors for an amount totalling more than euro 1,500 million.

The notes were offered following a CDP road show in the main Asian financial centers  – Singapore, Hong Kong, Tokyo and Beijing – and concluded in London.

Seventy-five percent of the notes was allocated to mutual funds and insurance companies and the remaining 25% to banks. As for the geographical distribution, 32% was allocated in Italy, 30% in France, 12% in Germany, 8% in Asia, 6% in Benelux, 5% in the UK/Ireland, 3% in the Middle East and the remaining 4% in other European countries.

Banca IMI, BNP Paribas, Citi, HSBC and Nomura acted as Joint Lead Managers and Joint Bookrunners for the transaction.

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