Intesa Sanpaolo has raised €2.5 billion through an Obbligazioni Bancarie Garantite (OBG) issue. The bond, which carries a coupon rate of 4.375%, is due to mature on Aug. 16, 2011. The bond is not offered to the Italian retail market but is distributed to institutional investors and financial institutions and will be listed on the Luxembourg Stock Exchange. Settlement of the fixed rate issue under the €20 billion OBG program backed by mortgages assigned by Intesa Sanpaolo, is due on Feb. 16, 2011. The banking group appointed Banca IMI, Barclays Capital, Deutsche Bank, Natixis and UBS Investment Bank as joint lead managers for the placement of the bond.
Click here for the release from Intesa Sanpaolo.