CDP has closed successfully its € 1 billion bond issue

Posted: 16 June 2017

Cassa depositi e prestiti has successfully placed a bond, reserved for institutional investors, having a nominal value of € 1 billion, at fixed rate, not subordinated and not backed by guarantees.

The issue, which is part of CDP’s medium-long term Debt Issuance Programme (DIP) amounting to € 10 billion, listed in the Luxembourg Stock Exchange, has a duration of 7 years (maturity June 2024), with an annual coupon of 1.5% and a price of 99.310%.

In view of the strong demand of € 1.8 billion, which came from more than 130 investors, the pricing was fixed at 123 basis points above the reference mid-swap rate, about 7-12 basis points lower than the initial range of pricing guidance.