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Intesa Sanpaolo Press release

INTESA SANPAOLO INTENDS TO IMPLEMENT A LIABILITY MANAGEMENT EXERCISE IN RESPECT OF SENIOR NOTES ISSUED BY FORMER VENETIAN BANKS 

Turin - Milan, 21 December 2017 – Intesa Sanpaolo intends to launch a liability management exercise in the near future with regard to the government-guaranteed senior notes listed below, issued by the former Venetian Banks (Banca Popolare di Vicenza and Veneto Banca). This will occur subject to market conditions.

 ISIN Code Issue date
 Issuer Initial Principal
Amount
(€bn)		 Outstanding
amount
(€bn)		 Maturity
date		 Annual
coupon
IT0005238859
 3 Feb. 2017
 B.Pop.Vic.
 3.00 3.00 (1) 3 Feb. 2020 0.50%
IT0005239535
 2 Feb. 2017
 Veneto B.
 1.75 1.75 (2) 2 Feb. 2020 0.50%


(1) As of the date hereof, €1,750,000,000 of the outstanding amount of the Notes are held by ISP.
(2) As of the date hereof, €400,000,000 of the outstanding amount of the Notes are held by ISP.

As already known, the government-guaranteed notes issued by Banca Popolare di Vicenza and by Veneto Banca are included in the segregated scope acquired by Intesa Sanpaolo under Decree Law 99/2017 (“Urgent provisions for the compulsory administrative liquidation proceedings of Banca Popolare di Vicenza S.p.A. and of Veneto Banca S.p.A.”) as converted with amendments by Law 121 of 31 July 2017, and following the contract signed on 26 June 2017 by and between Intesa Sanpaolo and Banca Popolare di Vicenza in compulsory administrative liquidation and by and between Intesa Sanpaolo and Veneto Banca in compulsory administrative liquidation.

Banca IMI has been appointed as Dealer Manager.

Further details on the transaction, if it occurs, will be duly disclosed to the market.

 

 

The distribution of this press release, directly or indirectly, in or into the United States, Canada, Australia or Japan is prohibited. This press release (and the information contained herein) does not contain or constitute an offer of securities for sale, or solicitation of an offer to purchase securities, in the United States, Canada, Australia or Japan or any other jurisdiction where such an offer or solicitation would require the approval of local authorities or otherwise be unlawful (the "Other Countries"). The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or pursuant to the corresponding regulations in force in the Other Countries and may not be offered or sold in the United States or to U.S. persons (as defined in Regulation S of the Securities Act) unless the securities are registered under the Securities Act, or an exemption from the registration requirements of the Securities Act is available. Intesa Sanpaolo does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from Intesa Sanpaolo and will contain detailed information about the bank and management, as well as financial statements.
 

This communication is being distributed only to and is directed only at (a) persons outside the United Kingdom, (b) persons who have professional experience in matters relating to investments, i.e., investment professionals within the meaning of Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order"), and (c) high net worth companies, unincorporated associations and other bodies to whom it may otherwise lawfully be communicated in accordance with Article 49(2)(a) to (d) of the Order (all such persons together being referred to as "relevant persons"). The securities are available only to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be available only to or will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this communication or any of its contents. 

 

 

Investor Relations
+39.02.87943180
investor.relations@intesasanpaolo.com

Media Relations
+39.02.87962326
stampa@intesasanpaolo.com


group.intesasanpaolo.com

 

 

Last updated 21 December 2017 at 12:20

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