Bond markets: Intesa Sanpaolo’s transactions. June 2025

Close-up of a financial analyst reviewing interactive market dashboards on multiple laptops — visualizing data-driven insights from Intesa Sanpaolo’s June 2025 DCM (Debt Capital Markets) operations

1st July, 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 June 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 euro- and dollar-denominated bond issues across a wide range of sectors.

Senior Unsecured Bonds

Italy

Webuild SpA: €450 million, senior unsecured bond, maturity 2031

International

EssilorLuxottica: €1 billion, senior unsecured bond, maturity 2030
Stellantis:
- €700 million, senior unsecured bond, maturity 2031
- €800 million, senior unsecured bond, maturity 2035
ACS SA: €500 million, senior unsecured bond, maturity 2030
Werfen SA: €500 million, senior unsecured bond, maturity 2032
Wolters Kluwer NV: €500 million, senior unsecured bond, maturity 2030
Cheniere Energy Partners: $1 billion, senior unsecured bond, maturity 2035
REWE International:
- €500 million, senior unsecured bond, maturity 2028
- €500 million, senior unsecured bond, maturity 2032
Abertis Infraestructuras: €600 million, senior unsecured bond, maturity 2030

Hybrid Bonds

CEMEX Sab de CV: $1 billion, hybrid bond, perpetual

Green Bonds

FCC Aqualia SA: €500 million, green bond, maturity 2032
Snam SpA: €1 billion, European green bond, maturity 2032

Senior Secured

Italy

Teamsystem SpA:
- €500 million, senior secured, maturity 2031
- €1.25 billion, senior secured, maturity 2032
Dolcetto Holdco SpA:
- €590 million, senior secured, maturity 2032
- €400 million, senior secured, maturity 2032
Biofarma-Kepler: €500 million, senior secured, maturity 2029

International

Manuchar Group: €425 million, senior secured, maturity 2032

US private placement

Assa Abloy AB: $90 million, US private placement, maturity 2029

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

Mediobanca:
- €750 million covered bond, maturity 2030
- €179.26 million retail senior preferred bond, maturity 2032
Unicredit:
- €1 billion senior preferred bond, maturity 2031
- €1 billion senior preferred bond, maturity 2035
Generali: €500 million Subordinated Tier 2 bond, maturity 2036
Banca MPS: €500 million Subordinated Tier 2 bond, maturity 2035

International

Goldman Sachs: €368.428 million retail bond, maturity 2032
Banco Comercial Portugues: €500 million senior preferred bond, maturity 2031
BNP Paribas SA: €1.5 billion Subordinated AT1 bond, perpetual
Eurobank SA: €500 million senior preferred bond, maturity 2028

SSA DCM – Sovereign, Supranational and Agency Issues

In the SSA DCM segment, IMI CIB acted as active joint bookrunner in two green bond transactions:

Cassa Depositi e Prestiti SpA: €500 million green bond, maturity 2033
Ferrovie dello Stato: €800 million green bond, maturity 2032

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.