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A&O Shearman advises Mediobanca on a new EUR500 million Senior Preferred bond

Published Date
Nov 4 2024
Mediobanca has successfully placed a Senior Preferred bond with a nominal value of EUR500m, maturing on January 15, 2031. The bond includes a call option exercisable on January 15, 2030, and is intended for institutional investors. The bond is issued in dematerialized form and centralized at Euronext Securities Milan (Monte Titoli). 

The bond pays an annual fixed coupon of 3% until January 15, 2030. From that date, if the call option is not redeemed, the coupon will be paid on a quarterly basis and will be determined based on the 3-month Euribor rate plus 85 basis points. 

The bond is issued under Mediobanca’s EUR40 billion Euro Medium Term Note (EMTN) Programme and has been admitted to trading on the regulated market of the Irish Stock Exchange, Euronext Dublin. 

We advised Mediobanca and the pool of financial institutions acting as managers with a team led by partner Cristiano Tommasi and counsel Emiliano La Sala, supported by associate Marco Mazzurco. Counsel Elia Ferdinando Clarizia advised on tax-related matters. 

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