Allen & Overy has advised in relation to the placement of a new six-year Senior Preferred Bond expiring in February 2030 with a call option set in February 2029, for a total amount of EUR500 million.
The bond is intended for qualified investors and represents Mediobanca’s second institutional issuance during the fiscal year 2023-24, which marked the inception of the 2023-26 Strategic Plan “One Brand One Culture”.
The bond will pay a coupon of 4.375% on February 1st each year starting from February 2025 until February 1st 2029. Starting from that date, if early repayment has not occurred, the bond will accrue quarterly interest equal to the three-month EURIBOR rate, increased at a margin of 1.40% on annual basis. The bond has been documented under Mediobanca’s EUR40 billion Euro Medium Term Note (EMTN) and will be listed on the regulated market of the Irish Stock Exchange, Euronext Dublin.
The A&O team advising Mediobanca and the pool of financial institutions acting as Managers in the placement was led by partner Cristiano Tommasi and counsel Emiliano La Sala, supported by associates Edoardo Brugnoli and Marco Mazzurco. Elia Ferdinando Clarizia, counsel, advised on tax-related matters.
