Mediobanca Issues EUR500 Million in Six-Year Bail-In Bonds

Miriam Mukuru

Italian lender Mediobanca Banca di Credito Finanziario issues six-year senior non-preferred bonds worth 500 million euros ($546 million), ING sector strategist Marine Leleux said in a note.

Senior non-preferred bonds, also known as bail-in bonds, absorb losses in the event that the bank runs into financial distress. The bonds rank below a bank's senior debt.

Mediobanca has two other outstanding senior non-preferred bonds which are concentrated in the shorter end of the curve, with a maximum duration of three years, ING analysts said in a note.

Italian banks have issued EUR750 million in senior non-preferred bonds so far in 2024, compared to EUR6.75 billion issued by French banks and EUR4.5 billion by Dutch banks, ING said.

Write to Miriam Mukuru at [e-mail]

(END) Dow Jones Newswires

03-12-24 1017ET