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Banco BPM 9.5% Perp Bond
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Bond Description
Current Coupon
9.5%
Maturity Date
24/11/2049
Credit Risk
High
Currency
EUR
Seniority
Jr Subordinated
Coupon Type
Fixed-Fixed (Margin-over Index)
Country
ITA
Industry Type
Banks (AT1)
Callable
Yes
Perpetual
Yes
Guarantor
None
Bond RatingsBBB-
Issuer Rating1
BBB-
Last Rating Action
Rating Watch Maintained on 2025-01-20
Issuer Rating Watch/Outlook
Rating Watch Positive
Issue Rating2
B+
Last Rating Action
Rating Watch Maintained on 2025-01-20
Issuer Rating Action History
02/12/2024
BBB-
Rating Watch On
Rating Watch Positive
21/03/2024
BBB-
Affirmed
Rating Outlook Stable
05/04/2023
BBB-
Affirmed
Rating Outlook Stable
Yield Analysis
Yield3
Not Applicable
Yield to Call
4.84
Z Spread (bps)
282.1
Duration
2.95
Next Coupon Date
24/11/2025
Accrued Interest
0.981
Next Call Date
24/11/2028
Next Call Price
100
Liquidity
Very Liquid
Next Reset Date
24/05/2029
Reset Index (Current Level)
2.230%
Spread
667.3bp
Reset Index
EUAMDB05 (EURIBOR ICE Swap Rate 11:00AM)
Bond Additional Information
ISIN Code
IT0005571309
Registration Type
Underwritten
Amount Issued
300,000,000
Amount Outstanding
300,000,000
Issue Date
24/11/2023
Issue Price
100
Coupon Frequency
2
Day Count
ACT/ACT
Redemption Value
100
Min. Denomination
200,000
Footnotes:
1 Issuer rating is the Long-Term Issuer Default Rating (IDR). Ratings data provided by Fitch Ratings.
2 Issue rating is the Long-Term Issue Rating. Ratings data provided by Fitch Ratings.
3 Yield displays YTM. Exceptions are perpetuals, which will display "Not Applicable", and fix-to-float bonds, which will assume constant rate of coupon projection.
Last traded data sourced from BondCliQ.