(Alliance News) - Banca Ifis announced on Tuesday evening that it had completed the placement of a senior preferred unsecured bond issue under its EMTN issue program in the amount of EUR400 million. The transaction was intended for institutional investors.

Specifically, the issue has a five-year term, with an expected settlement date of February 27, 2024. The reoffer price is 99.362 for a yield to maturity of 5.65 percent and a coupon payable annually of 5.50 percent.

The bond will be listed on Euronext Milan and has an expected rating of BB+ by Fitch and Baa3 by Moody's.

The placement of this bond is part of the EMTN funding program under the bank's Business Plan for the three-year period 2022-24, which estimates EUR2.5 billion in new placements.

Banca Ifis closed Tuesday's session in the red by 0.5 percent at EUR16.45 per share.

By Maurizio Carta, Alliance News reporter

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