Mediobanca successfully completes the issue of its inaugural €300m Sustainable Tier 2 bond

Mediobanca has successfully completed the placement of its inaugural sustainable Tier 2 bond, with a duration of ten years and six months (expiring in September 2035), and a call option after year 5, for a total amount of €300m.

The bond has attracted broad and diversified appeal on the market, which has enabled the yield initially announced to be revised (200 bps above mid-swap) and set at 175 bps. The new bond will therefore guarantee a coupon of 4.25%. Orders in excess of €1bn were received during the placement, more than 3x the target amount of €300m.

With this institutional issue, Mediobanca has completed the debt capital strategy envisaged in its Strategic Plan 2023-26 “One Brand-One Culture” well ahead of schedule, and in the process has also achieved the ESG target of issuing two sustainability bonds.

The price level achieved despite the high volatility recorded in financial markets during recent sessions confirms investor confidence in the Group’s ability to deliver on the objectives set in its three-year plan, and consolidates Mediobanca’s positioning as best-in-class among Italian financial institutions in terms of efficiency and pricing in debt instruments.

The bond's placement has seen the participation of the leading international institutional investors (71%, with orders from France in particular accounting for 30%, from Germany, Austria and Switzerland for 18%, from the United Kingdom and Ireland for 9%, and from Italy (orders accounting for 29%). The performance of this issue confirms once again investors’ interest and Mediobanca's capability in terms of diversifying its sources of funding.

Milan, 11 March 2025