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Italy's Intesa Sanpaolo launches EUR1.5bn 10 year bond.

Global Banking News-10 September 2009-Italy's Intesa Sanpaolo launches EUR1.5bn 10 year bond(C)2009 ENPublishing -

Global Banking News - 10 September 2009(c)2005 - Electronic News Publishing -

Italian bank Intesa Sanpaolo SpA (ISP.MI) (ISE: ISP) (OTCBB: ISNPY) has said that it has launched a EUR1.5bn subordinated lower Tier-II 10-year euro-bond.

In a filing to the Italian stock exchange, the company said that it is a fixed-rate bond with an annual five percent coupon payable on September 23 that is offered to international institutional investors and financial institutions.

The re-offer price is 99.147 percent. The bond will be listed on the Luxembourg Stock Exchange, the bank said.

Banca IMI, BNP Paribas (BNPP.PA) (LSE: BNP) (OTC: BNPQY) and Deutsche Back (NYSE: DB) (DBK.DE) are acting as joint lead managers for the bond placement.

Moody's Investors Service has an 'Aa2' rating on Intesa Sanpaolo's senior long- term debt, while Standard & Poor's and Fitch Ratings each have an 'AA-' rating.

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Publication:Global Banking News (GBN)
Date:Sep 10, 2009
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