Bond markets: Intesa Sanpaolo’s transactions. February 2025
1 March, 2025
Intesa Sanpaolo, through its IMI Corporate & Investment Banking Division, confirmed its position as a leading player in the international bond markets, supporting corporate, financial and sovereign issuers in Debt Capital Markets transactions.
During February 2025, the Division participated in numerous euro- and dollar-denominated transactions, playing a key role in the corporate, Financial Institutions Group (FIG) and Sovereigns, Supranationals and Agencies (SSA) segments.
Corporate DCM – Bond Issues
In the corporate DCM segment, IMI Corporate & Investment Banking Division acted as Joint Lead Manager in bond issues across several sectors including automotive, energy, infrastructure and financial services.
Italy
- Leasys: €500 million, senior unsecured bond, maturity 2027
International
- Ford Motor: €750 million, senior unsecured bond, maturity 2030
- Cofiroute: €650 million, senior unsecured bond, maturity 2033
- Criteria Caixa: €500 million, senior unsecured bond, maturity 2031
- Carnival Corp: $1 billion, senior unsecured bond, maturity 2030
- Georgia Power:
- $400 million, senior unsecured bond, maturity 2026
- $500 million, senior unsecured bond, maturity 2031
- $700 million, senior unsecured bond, maturity 2035
Italy
- Terna: €750 million, green bond, maturity 2032
International
- Saudi Electricity:
- $1.5 billion, green bond sukuk, maturity 2030
- $1.25 billion, green bond sukuk, maturity 2035
- Enel Finance Intl NV:
- €750 million, sustainability-linked bond, maturity 2028
- €750 million, sustainability-linked bond, maturity 2031
- €500 million, sustainability-linked bond, maturity 2036
- DoValue: €300 million, senior secured bond, maturity 2030
- Alia SpA: €200 million, US private placement
- Florida Power & Light Co:
- $350 million, first lien bond, maturity 2034
- $950 million, first lien bond, maturity 2055
- $700 million, first lien bond, maturity 2065
FIG DCM – Bond issues from financial institutions group
In the FIG DCM segment, IMI Corporate & Investment Banking Division supported significant transactions for Italian and international financial institutions, acting as bookrunner in the following deals:
Italy
- Banco BPM: €750 million Social covered bond, maturity 2030
- Mediocredito Centrale: €500 million Social senior preferred bond, maturity 2030
- Intesa Sanpaolo Assicurazioni: €500 million Subordinated Tier 2 bond, maturity 2035
- Iccrea Banca: €100 million Senior unsecured bond, maturity 2032
International
- UBS: Two Subordinated AT1 bonds, $1.5 billion each, perpetual, fixed-to-floating
SSA DCM – Sovereign, Supranational and Agency Issues
In the SSA DCM segment, IMI CIB acted as active joint bookrunner in six euro-denominated sovereign bond transactions.
Italy
- Ministry of Economy and Finance:
- €13 billion BTP benchmark, maturity 2040
- €14.9 billion BTP Più retail, step-up coupon, maturity 2033
- Cassa Depositi e Prestiti: €1.25 billion Senior unsecured bond, maturity 2032
International
- Republic of Croatia: €2 billion Senior unsecured bond, maturity 2037
- Emirate of Sharjah: €500 million Eurobond, maturity 2032
- Republic of Albania: €650 million Senior unsecured bond, maturity 2035€650 milioni di euro, Bond senior unsecured, scadenza 2035
These transactions confirm Intesa Sanpaolo’s ability to assist a diversified range of issuers in the international bond markets, with a strong presence across multiple sectors and geographies.
