BPER Banca completes 500 million euro green bond issuance

BPER Banca has successfully completed the placement of a 500 million euro green bond aimed at institutional investors. This senior non-preferred issuance has a four-year duration with an option for early redemption after three years.

The bond issuance saw significant demand, with orders exceeding 1.9 billion euros from more than 110 investors. This robust interest allowed the bank to reduce the spread from an initial indication of approximately 100 basis points to 70 basis points above the mid-swap. The final annual fixed coupon is set at 4.125%.

Proceeds from the sale will be used to finance or refinance eligible green assets, aligning with the group’s Green, Social and Sustainability Bond Framework. The allocation was primarily distributed among investment funds (78%) and banks (10%), with participation from Italian, French, and British/Irish investors. The expected ratings for the securities are BBB-, BBB-, and BBB from S&P, Fitch, and DBRS, respectively.