Milano, 26 October 2006
Banca Intesa has reopened today its GBP Subordinated Lower Tier II bond due 2016 for a GBP 250 million tranche in addition to the original issue launched in July 2006. The new total aggregate amount of the bond, of GBP 1 billion, issued under Issuer’s Euro Medium Term Notes Programme, is now the largest amount ever issued by a bank in the sterling LT2 market.
The bond is callable upon coupon payment date falling in December 2011.
The Issuer will pay a fixed rate coupon equal to 5.50% payable annually in arrear on 19th December of each year starting from 19th December 2006 to 19th December 2011. Afterwards, if the note is not redeemed early by the Issuer, the coupon rate will be turned from fixed into floating and be equal to three-month GBP LIBOR rate plus 99 bps.
The issue price is 99.329 %.
Considering the issue price, the total spread for the investor, calculated at the call date, is equal to 66 bps above UKT 4.25% March 2011 Government Bonds.
Settlement is due on 7th November 2006.
The bond is not targeted to the Italian retail investors; it is distributed to international institutional investors only. It will be listed on the Luxembourg Stock Exchange and, traded, as usual, in the Over-the-Counter.
Lead Managers are: Banca Caboto, Barclays and Royal Bank of Scotland.
The ratings assigned to Banca Intesa’s senior long-term debt are: Aa3 by Moody’s, A+ by Standard & Poor’s and AA- by Fitch.
Investor Relations
+39.02.87943180
investorelations@bancaintesa.it
Media Relations
+39.02.87963531
stampa@bancaintesa.it
This communication does not constitute an offer of securities for sale in the United States. The securities of Banca Intesa S.p.A. may not be offered or sold in the United States except pursuant to an effective registration statement under the Securities Act of 1933 or pursuant to a valid exemption from registration. Any public offering of the bonds to be made in the United States will be made by means of a prospectus that may be obtained from Banca Intesa that will contain detailed information about the company and management, as well as financial statements. Banca Intesa will not conduct any offering of the securities referenced in this communication in the United States. This communication is not for distribution in the United States, Canada, Australia or Japan.
Last updated 26 October 2006 at 18:52
