Banca Imi among placement managers for Intesa Sanpaolo Eurobond issue

Banca Imi, the investment bank of the Intesa Sanpaolo Group, is to act as a joint lead manager for the placement of Intesa Sanpaolo’s EUR1.5 billion Eurobond issue, launched earlier this month, targeted at international markets.

It is a seven-year, fixed rate issue – to be listed on the Luxembourg Stock Exchange and traded over the counter - under the Euro Medium Term Notes Programme of Intesa Sanpaolo. The coupon, payable annually in arrears on 23rd November annually from and including 23rd November 2010 up to the maturity date, is equal to 3.75%. Settlement is due on or about 23rd November 2009.

The re-offer price is 99.402%. Considering that it was re-offered below par, the yield to maturity is 3.849% per annum and the total spread for the investor is equal to the seven-year mid swap rate, plus 68 basis points.

Minimum denomination of the bond issue is EUR50,000 and multiples. The bond is distributed to international institutional investors and financial institutions.

Morgan Stanley, Société Générale and UBS are the other joint lead managers for the placement of the bond. The ratings assigned to Intesa Sanpaolo’s senior long-term debt are: Aa2 by Moody’s, AA- by Standard & Poor’s and AA- by Fitch.