Bper successfully places additional Tier 1 bond issue for 500 million

Orders for over 3.2 billion euros, equal to 6 times the offer

Bper Banca announces that, following the conclusion of the book-building activity, it has successfully completed an Additional Tier 1 bond issue with perpetual duration and callable starting from the fifth year, for an amount of 500 million euros (the titles”). The Notes, intended for institutional investors, were placed at par with a fixed coupon of 8.375% until 16 July 2029, payable semi-annually; if the Bank decides not to exercise the early repayment option, the coupon would be redetermined on the basis of the 5-year euro swap rate, recorded at the time of the recalculation date, increased by a spread of 595 bps and would remain fixed for the subsequent 5 years (until the next recalculation date). The Additional Tier 1 bond issue recorded orders in excess of 3.2 billion euros during placement, which made it possible to reduce the initial yield indications from 9.00% to 8.375% and to reach the target size of 500 million of Euro.

The final allocation was mainly in favor of investment funds (80%) and private banking (15%). The geographical distribution sees the presence of foreign investors – including the United Kingdom with 50%, France with 11% and Germany with 8% – and Italians, with 18%. Coupon payment is totally discretionary and subject to certain limitations. The Additional Tier 1 bond issue also provides for the temporary reduction of the nominal value if the CET1 ratio of the Bank and/or the Group falls below 5.125%. Barclays acted as Sole Structuring Advisor, Global Coordinator and Joint Bookrunner while Deutsche Bank, IMI-Intesa Sanpaolo, Mediobanca, Morgan Stanley and UBS acted as Joint Bookrunners.