Sanpaolo IMI SpA, one of the top three banking groups in Italy, made its debut in Singapore's bond markets yesterday (Thursday) Sanpaolo IMI announced the launch of a S$100 million five-year bond off its EMTN programme lead-managed and underwritten by Citibank
The fixed rate bonds pay a coupon of 2 71%, which is much cheaper than the 4 4% coupon on the Eu100 million five-year fixed rate bonds that Sanpaolo issued earlier in the month At that time Sanpaolo also raised Eu100 million each three- and seven-year fixed rate bonds paying a coupon of 3 85% and 4 7%
The issue under the EMTN programme, which is rated A+/Aa3, allows Sanpaolo to take advantage of...
