CREDITO VALTELLINESE TO LAUNCH SENIOR EURO-DENOMINATED BOND ISSUE IN ASSOCIATION WITH BANCA IMI AND CABOTO
Credito Valtellinese has launched a 5-year variable-rate bond issue of 250 million euros. Senior bond issue (issue price 99.817) pays a variable rate coupon of 3 months Euribor + 25 basis points.
With a banking network consisting of 305 branch offices serving most areas in Lombardy, Sicily, Tuscany and Latium and net assets for € 9,686 million, the Credito Valtellinese Group is made up of four retail banks, two specialized banks, a company involved in the collection of taxes and three service companies providing support to its banking core business. Credito Valtellinese offers a wide range of products and services related to asset management, private banking, corporate finance, remote banking, bank insurance, as well as information technology and real estate management. The Group's clientele is mainly composed of small and medium sized companies, craftsmen and families. Bancaperta is the Group company entrusted with finance and web banking. At present, there are over 150,000 customers benefiting from a range of services and facilities offered via the Internet through the banc@perta line.
As of June 30, 2003, the Group's parent bank, Credito Valtellinese, recorded profits for € 26.4 million (+ 44% compared with first half of 2002). The Board of Directors of Credito Valtellinese has recently resolved on an extraordinary meeting of the shareholders to be held in November in order to submit a capital increase plan for about 340 million euros.
For further information:
Banca Intesa Press Office
Banca IMI - External Relations Division
Credito Valtellinese, Raffaella Premoli
The issue was placed by Banca IMI and Caboto acting as joint bookrunners while Bancaperta (Credito Valtellinese Group member bank) has acted as senior co-lead manager.
Phone: +39 (0)2 8796 3845
www.bancaintesa.it
www.caboto.it
Andrea Monzani Phone: +39 (0)2 7751 2502
www.bancaimi.it
Phone: +39 (0)2 8063 7403
