We advised Iccrea Banca S.p.A. in the issuance of a "€400,000,000 Subordinated Callable Tier 2" bond under its €3 billion EMTN (Euro Medium Term Note) programme. This is the first bond issuance since the banking group was formed last March.
The bonds, listed on the Luxembourg Stock Exchange and placed with institutional investors, were fully absorbed by the market with requests reaching €550 million. The deal is aimed at raising capital in view of the imminent maturity of a bond of the same amount and strengthening the group's capital.
Our team included Madeleine Horrocks and Franco Lambiase, with Giovanni Leoni and Camillo Melotti Caccia on tax aspects.