Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Italian Stock Exchange  >  Intesa Sanpaolo    ISP   IT0000072618

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

Intesa Sanpaolo SpA : Intesa Sanpaolo launches 1 billion euro 12-year benchmark Covered Bonds (Obbligazioni Bancarie Garantite) backed by mortgages

share with twitter share with LinkedIn share with facebook
share via e-mail
0
01/17/2013 | 09:18am CEST

- DEMAND (87% FROM FOREIGN INSTITUTIONAL INVESTORS) OF APPROXIMATELY €3.5 BILLION (3.5 TIMES THE € 1 BILLION TARGET)

- LONGEST BOND ISSUED BY A SOUTH-EUROPEAN BANK SINCE FEBRUARY 2011

- SPREAD 150 bps, 106 bps BELOW BTP, REFLECTS FINANCIAL STRENGHT OF INTESA SANPAOLO

- THIS ISSUE FOLLOWS THE SENIOR $3.5 BILLION DUAL-TRANCHE ISSUED ON THE U.S. MARKET AT THE BEGINNING OF THE YEAR; THESE ISSUES PLUS THEPRE-FUNDINGMADE AT THE END OF 2012 ALREADY COVER THE APPROXIMATE TOTALWHOLESALEMEDIUM-LONG TERM MATURITIES FOR THE ENTIRE 2013


Turin - Milan, January 16th2013 -Today, Intesa Sanpaolo has launched a €1 billion Covered Bonds (Obbligazioni Bancarie Garantite, OBG) issue targeted at institutional markets to optimise its treasury management.

It is a 12-year, fixed-rate issue under the €20 billion OBG Program mostly backed by residential and commercial mortgages assigned by Intesa Sanpaolo.

The demand (87% from foreign institutional investors) was approximately €3.5 billion (3.5 times the €1 billion target).

The bond issued today follows the senior dual-tranche bond issue of a total amount of $3.5 billion on the U.S. market on last January 8th; these issues plus thepre-fundingmade at the end of the 2012 already cover the approximate totalwholesalemedium-long term maturities for the entire 2013.

The 3.375% coupon is payable in arrears on January 24thof each year.

The re-offer price is 99.418%.

Considering the re-offer price, the yield to maturity is 3.435% per annum. The total spread for the investor is equal to the mid-swap rate plus 150 basis points, 106 basis points under the BTP of the same maturity.

Settlement is due on January 24th2013.

Minimum denomination of the bond issue is 100 thousand Euro and multiples.

The bond is not offered to the Italian retail market; it is distributed to international institutional investors and financial institutions. It will be listed on the Luxembourg Stock Exchange and, as usual, traded Over-the-Counter.

Banca IMI, Crédit Agricole CIB, HSBC, RBS and UniCredit act as joint lead managers for the placement of the bond.

This communication does not constitute an offer or an invitation to subscribe for or purchase any securities. The securities have not been and will not be registered under the United States Securities Act of 1933 (as amended) (the "Securities Act"). The securities may not be offered, sold or delivered within the United States or to "U.S. persons" (as defined in Regulation S under the Securities Act) as part of their initial offering. The securities may be initially offered and sold only outside the United States in reliance on Regulation S under the Securities Act and subsequent resales may be made only in accordance with applicable law. Copies of this announcement are not being made and may not be distributed or sent into the United States, Canada, Australia or Japan.

This communication is being distributed to and is directed only at (i) persons who are outside the United Kingdom or (ii) persons who are investment professionals within the meaning of Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") and (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2) (a) to (d) of the Order (all such persons together being referred to as "relevant persons"). Any investment activity to which this communication relates will only be available to and will only be engaged with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.

Investor Relations
+39.02.87943180
[email protected]

Media Relations
+39.02.87963531
[email protected]


group.intesasanpaolo.com
distributed by
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on INTESA SANPAOLO
10/22 US dollar exchange rate stable during Sunday trading
10/20 INTESA SANPAOLO : The Art of Saving goes interational
10/19 INTESA SANPAOLO : EIB partners with Intesa Sanpaolo and Societe Generale to prov..
10/19 INTESA SANPAOLO : EIB Partners With Intesa Sanpaolo, Societe Generale to Provide..
10/17 EGYPT : Dollar Exchange Rate Stable at Major Banks in Egypt
10/16 S&P says Italian banks most exposed to ECB's bad loan plan
10/11 Dollar exchange rate stable at major banks in Egypt
10/10 Intesa, Generali take up Carige's debt exchange offer
10/10 US dollar to Egyptian pound prices Tuesday
10/10 EU parliament head challenges ECB over bad loan guidelines
More news
News from SeekingAlpha
10/20 Tracking Ken Fisher's Fisher Asset Management Portfolio - Q3 2017 Update
10/13 Bridgewater bets against Italian banks
08/03 Are Italian Banks Cheap?
08/02 Intesa Sanpaolo reports Q2 results
07/23 Tracking Ken Fisher'S Fisher Asset Management Portfolio - Q2 2017 Update
Financials (€)
Sales 2017 17 324 M
EBIT 2017 8 093 M
Net income 2017 6 833 M
Debt 2017 -
Yield 2017 7,09%
P/E ratio 2017 7,84
P/E ratio 2018 12,21
Capi. / Sales 2017 2,77x
Capi. / Sales 2018 2,69x
Capitalization 47 994 M
Chart INTESA SANPAOLO
Duration : Period :
Intesa Sanpaolo Technical Analysis Chart | ISP | IT0000072618 | 4-Traders
Technical analysis trends INTESA SANPAOLO
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 3,16 €
Spread / Average Target 10%
EPS Revisions
Managers
NameTitle
Carlo Messina MD, Chief Executive Officer & Director
Gian Maria Gros-Pietro Chairman
Eliano Omar Lodesani Chief Operating Officer & Head-Human Resources
Stefano del Punta Chief Financial Officer
Giovanni Costa Director & Deputy Chairman-Management Board
Sector and Competitors
1st jan.Capitalization (M$)
INTESA SANPAOLO18.22%56 552
JP MORGAN CHASE & COMPANY15.32%350 172
INDUSTRIAL AND COMMRCL BANK OF CHINA LTD41.50%324 236
BANK OF AMERICA22.94%286 659
WELLS FARGO-0.34%270 639
CHINA CONSTRUCTION BANK CORPORATION34.01%239 293