BPER Banca Targets Up to €500 Million in AT1 Bond Sale
The perpetual bond is callable after six years, with initial yield indications around 7.25%. Orders have exceeded €2.75 billion; the offering is expected to receive a Ba2 rating from Moody’s.
BPER Banca has returned to the bond market with a perpetual Additional Tier 1 (AT1) instrument, callable after six years, aiming for a maximum issuance of 500 million euros. The offering has seen significant interest from institutional investors, with orders exceeding 2.75 billion euros. Initial yield indications for the bond are set at approximately 7.25%. The placement is being managed by a syndicate including Barclays, Deutsche Bank, Citi, HSBC, Santander, and UniCredit, with the security expected to receive a Ba2 rating from Moody's.