Allen & Overy has advised FinecoBank, one of the leading FinTech banks in Europe, on a new EUR300 million senior preferred fix-to-floater bond with six years’ maturity (23 February 2029), intended for institutional investors.
The issuance has a fixed annual coupon equal to 4.625% for the first five years with a call option for the issuer on the optional redemption date of the fifth year (23 February 2028). Should the issuer not call the bond, the coupon for the following year will reset to a floating rate equal to three-months’ Euribor, increased at a margin of 1.5%.
The bond has been issued under the new Euro Medium Term Note (EMTN) programme, recently established by FinecoBank with the assistance of Allen & Overy. The notes were admitted to listing on the regulated market of the Irish Stock Exchange, Euronext Dublin.
The A&O team was led by partners Cristiano Tommasi and Craig Byrne, co-heads of the Italian International Capital Markets practice, supported by associate Elisabetta Rapisarda and trainee Paolo Martellone. Counsel Elia Ferdinando Clarizia advised on tax aspects.
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