Mediobanca gets hefty demand in return to senior pref

Mediobanca_Alamy_230x150
By David Freitas
09 Jul 2019

Italian banks have been in the spotlight recently and Mediobanca on Tuesday was the fifth bank to tap the euro market in the past two weeks, after UniCredit, Intesa Sanpaolo, Banca Monte dei Paschi di Siena and UBI Banca. It attracted demand of more than three times the deal’s size of €500m.

Falling yields have made Italian banks rally to the euro market and on Tuesday it was Mediobanca’s turn to market a bond, in senior preferred format.

Bookrunners Banca IMI, Mediobanca, Raiffeisen Bank, Socété Générale and UniCredithelped Mediobanca launch the senior preferred instrument at a spread of 137bp over mid-swaps.

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