FinecoBank S p A : PR - FinecoBank succesfully places Senior Preferred

PRESS RELEASE

FinecoBank successfully places a €500 million Senior Preferred bond. Demand is equal to more than 4 times the offer

Milan, 15 October 2021

FinecoBank informs that, on 14th October 2021, it has successfully completed the placement of its first issue on the market of Senior Preferred instruments, intended for qualified investors, for a total amount of €500 million and a coupon equal to 0.50% for the first 5 years (with a spread equal to 5 years Mid Swap rate plus 70 basis points) compared to an initial guidance of 5 years Mid Swap rate plus 100 basis points. The contraction compared to the initial guidance is one of the most significant that has occurred for this type of instrument in 2021 both in the Italian and European scenario, thanks to an overall demand that is more than 4 times the supply.

The issue registered an order volume of €2.02 billion, confirming the appreciation shown towards FinecoBank by the market also in the fixed-income segment. The placement allows the Bank to immediately meet the fully loaded MREL requirement on the Leverage Ratio Exposure (5.18%), which will become effective on 1 January 2024, with negligible impact on the Bank's profits.

Only institutional investors took part in the placement, mainly asset managers (70% of the total) and banks/private banks (33%). The issue was placed mainly with institutional investors in Italy (32%), France (27%), the United Kingdom (11%), Germany and Austria (9%), Benelux (7%), the Nordic countries (6%) and Switzerland (5%).

In detail, the issue has the following characteristics: 6 years maturity with call option for the issuer on the fifth year, public placement, intended for trading on the unregulated Global Exchange Market managed by Euronext Dublin, BBB rating (S&P Global Ratings), fixed rate annual coupon for the first 5 years, floating rate between the fifth and sixth year.

Citigroup Global Markets Limited, Mediobanca, Morgan Stanley & Co. Limited and UniCredit Bank AG acted as joint bookrunners and joint lead managers.

FinecoBank

FinecoBank is one of the leading FinTech banks in Europe. Listed on the FTSE MIB, Fineco offers a unique business model in Europe, combining the best platforms with a large network of financial advisors. It offers banking, credit, trading and investment services from a single account through transactional and advisory platforms developed with proprietary technologies. Fineco is a leader in brokerage in Europe, and one of the most important players in Private Banking in Italy, with advanced and highly personalized advisory services. Since 2017, FinecoBank has also been active in the UK, with an offering focused on brokerage, banking and investment services. In 2018, Fineco Asset Management was founded in Dublin, whose mission is to develop investment solutions in partnership with the best international managers.

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