ABN AMRO, Caboto and Mediobanca launch a € 350 million senior bond for Credito Valtellinese
Milan, 1 February 2005 - Credito Valtellinese has launched a EUR 350 million, 5-year senior variable-rate bond on the Euromarket. The bond, issued at a price of 99.859%, will pay a coupon of 25 base points above the EURIBOR rate at 3 months and redeems at par at maturity. ABN AMRO, Caboto and Mediobanca acted as joint-bookrunners in placing the bonds, while Bancaperta (company belonging to the Credito Valtellinese Group) and Dexia/Bil took on the role of co-lead managers.
The bond will be issued as part of the Credito Valtellinese Euro Medium Term Notes Programme and will be listed on the Luxemburg Stock Exchange. The rating forecast for the issue is Baa1 (Moody's).
Based on the amount of the issue, demand from international investors can be broken down as follows: Luxemburg 10%, Germany 10%, Ireland 7%, UK 7%, Austria 4%, Belgium 3%, Greece 2%, Holland 2% and Switzerland 0.5%, for a total of 45% abroad and 55% with Italian institutional investors.
The Credito Valtellinese Group, whose activities are geared towards the social and economic promotion of its territories, operates in Lombardy, Veneto, Tuscany, Lazio and Sicily with a network of 347 branch offices. The Group, active in the traditional retail banking market, offers a broad range of products including asset management, private banking, remote banking, bancassurance and technical services, and has structures specializing in information technology and real estate management. The Group is made up of four territorially based banks, six companies specialising in finance (two operating respectively in managed assets and fiduciary services), a tax collection company, and four companies that provide support services for the bank's business activities. Total consolidated turnover was € 12,605 million as at 30 September 2005.
Bancaperta, whose core business is finance, manages the online services of the banc@perta product line, which currently has more than 222,000 customers.
For further information, contact:
Telephone 02 8063 7403
