Italian Mps returns triumphantly to the bond market

Italy’s third-largest lender Monte dei Paschi di Siena (Mps) returned to the bond market on 11 January 2018, issuing its first bond sale since the Italian government had to rescue the bank last year.

In particular, the Monte dei Paschi di Siena has launched a 10-year Tier2 bond (with a call after five years) that has raised €750m after investors placed €2.5bn in orders.

The bond, maturing on 18 January 2028 and to be available for purchase on 18 January 2023, guarantees a final yield of 5,375%.

The bank’s rapid success – on its return to the bond market – suggests that investors’ mood is not being affected by uncertainty over upcoming Italian election to be held next March.

ABOUT THE AUTHOR
Eugenia Jimenez
Eugenia Jiménez speaks Spanish and is Iberia Correspondent for Investment Europe covering Spain & Portugal, as well as assisting with coverage of Italy. She holds a UK NCTJ- accredited Multimedia News Reporting course and studied Journalism at the University of Sevilla. She has worked for local media organisations in Sevilla and Málaga, mainly in broadcasting as a news reporter, among other roles. She has also worked for a local newspaper in Sevilla, reporting on current affairs, local government and culture.

Read more from Eugenia Jimenez

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