Intesa Sanpaolo successfully placed a dual tranche bond issue on the institutional market as follows:
1. a 5-year Senior Non Preferred Green Bond with an option to be called in the 4th year, for a nominal amount of €1.5 billion at a level equal to mid swap +170 bps, a 5% coupon rate and value date of 8 March 2023
2. a 10-year Senior Non Preferred Green Bond for a nominal amount of €750 million at a level equal to mid swap + 255 bps, a 5.625% coupon rate and a value date of 08 March 2023
The bonds’ use of proceeds are intended to finance or refinance all green categories described in Intesa Sanpaolo’s Green, Social and Sustainability Bond Framework, dated June 2022.
The issue immediately garnered interest from investors, exceeding €3 billion in combined orders in the first two hours of the book building
About 80% of the joint order book came from investors dedicated to the ESG segment.
Banks that participated in the placement as joint book runners – alongside Intesa Sanpaolo's IMI CIB Division – were BBVA, BNP Paribas, BofA Securities, Citi, Commerzbank, Morgan Stanley, and UBS.