The bond is fixed to floating rate, with an annual fixed coupon of 3.25% until November 27, 2029. Starting from that date, if the issuer won’t exercise the call option, the coupon will be paid on a quarterly basis and will be determined basing on the three-months Euribor rate plus a margin of 145 basis points. The bond is issued under the EMTN programme of Banca Monte dei Paschi di Siena S.p.A. and was admitted to listing on the regulated market of the Luxembourg Stock Exchange.
The A&O Shearman team was led by partner Cristiano Tommasi, with support from senior associates Sarah Capella and Elisabetta Rapisarda, associate Paolo Martellone and legal intern Lisa Avitabile. Counsel Elia Ferdinando Clarizia advised on tax aspects.
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