AMCO S.p.A. launches a new €750 million bond issue at 0.75% expiring in April 2028

On Tuesday 13 April, AMCO – Asset Management Company S.p.A. – successfully placed a 7-year senior unsecured bond.

• The transaction, with a nominal value of €750 million, has a fixed rate, is unsubordinated and unsecured, expires on 20 April 2028 (bullet), pays an annual coupon of 0.75% and has an issue price of 99.303%, corresponding to a spread of 45 bps above the benchmark BTP (equivalent to 101.8 bps above the mid-swap rate). The effective yield is 0.853%. The securities will be listed on the Luxembourg Stock Exchange.
• The Company is rated Investment Grade BBB with stable outlook by Standard & Poor’s and BBB- with stable outlook by Fitch.
• The security, which is restricted to professional investors and eligible counterparties, collected total orders of around €2 billion – almost three times the amount offered – from around 100 domestic and international investors. The positive feedback received enabled the transaction’s yield to be reduced by 20 basis points from the initial guidance (from 65 to 45 bps), in line with AMCO’s other listed bonds.
• The income of the issue will be used to diversify the company’s funding.
• Banca Akros acted as Bookrunner.
• This is the seventh bond issue for Banca Akros in which it has acted as leading bank during 2021.

TEAM

Debt Capital Markets

Pierpaolo Rossi                               +39 02 4344 4642

Giada Sonego                               +39 02 4344 4654

Fabrizio Ippolito                              +39 02 4344 4669

Corporate & Institutional Banking

Nicola Scapillati                             +39 02 4344 4546

Institutionals and Third Sector

Francesco Minotti                          +39 06 4237 9670

Michele Schena                             +39 06 4237 9512