22 Jun 2017 15:23
New bond issuance of 200 mln/€ - PRICE SENSITIVE
BFF Banking Group announces a 5-year senior unsecured bond issuance for Euro 200 million

BFF Banking Group announces the successful placement to institutional investors of a new senior unsecured and unrated bond due June 2022, for an aggregate notional amount of Euro 200 million, issued by the parent company Banca Farmafactoring S.p.A.

The issuance represents a further step in the continuous diversification of funding sources carried out by the Group. The transaction – the first after the BFF listing on the Milan Stock Exchange – follows the repayment on 12 June 2017 of the inaugural 3-year senior unsecured bond for Euro 300 million, issued in June 2014. The notes will be issued with a denomination of Euro 100,000 and integral multiples of Euro 1,000 in excess thereof.

The issuance price is 99.619%, and the notes will carry an annual fixed coupon of 2%. The issuance and settlement are expected to occur on 29 June 2017. On or about the issue date, the notes will be listed on the official list of the Irish Stock Exchange and will be admitted to trading on the relevant regulated market.

Morgan Stanley & Co. International plc acted as Sole Underwriter and Lead Manager on the transaction. White & Case LLP acted as legal counsel of the issuer and Clifford Chance Studio Legale Associato acted as legal counsel to Morgan Stanley & Co. International plc.