(Alliance News) - Banca Ifis Spa announced Thursday that it has completed the placement of a EUR300 million senior preferred bond issue under its EMTN issuance program.

The transaction was targeted at institutional investors. Specifically, the issue has a four-year maturity, with an expected settlement date of January 19, 2023. The re-offer price is 99.569 for a yield to maturity of 6.25 percent and a coupon payable annually of 6.125 percent.

The bond will be listed on Euronext Dublin and has an expected rating of BB+ by Fitch and Baa3 by Moody's.

The placement of this bond is part of the EMTN funding program under the bank's Business Plan covering the three-year period 2022-24, which estimates EUR2.5 billion in new placements.

"We are satisfied with the response received from the market, which has positively welcomed our issuance, despite the fact that the international financial environment is not simple. The oversubscription demand once again confirms that Banca Ifis is a reliable interlocutor for major institutional investors nationally and internationally," says Frederik Geertman, CEO of Banca Ifis.

Banca Ifis on Thursday closed in the green by 0.7 percent at EUR14.44 per share.

By Chiara Bruschi, Alliance News reporter

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