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Da utente Basispoint in altro Forum:
Notes: Subordinated Notes intended to be eligible to count as Tier 2 capital of the Issuer
Issuer Senior Rating: BB (negative) / BB (negative) (Fitch / DBRS)
Exp Issue Rating: [BB-] (Fitch)
Guidance: 10 to 11% Yield Area, Pricing with 9% coupon and OID
Size: €200m
Settlement Date: 29 September 2015 (T + 3)
Call Date: 29 September 2020
Maturity Date: 29 September 2025
Status of the Notes: The Subordinated Notes and the Coupons relating to them will constitute direct, unsecured and subordinated obligations of the Issuer and rank pari passu and without any preference among themselves. In the event of the bankruptcy (including, inter alia, Liquidazione Coatta Amministrativa, as described in Articles 80 to 94 of Legislative Decree No. 385 of 1 September 1993, as amended from time to time (the “Italian Banking Act”), dissolution, liquidation or winding-up of the Issuer, the payment obligations of the Issuer under the Subordinated Notes and the Coupons relating to them together with any other amounts attributable to the Subordinated Notes (including, without limitation, any accrued and unpaid interest thereon and any damages awarded for breach of any obligation in respect of such Note) shall rank in right of payment after unsubordinated, unsecured creditors (including depositors) of the Issuer but, at least, pari passu with all other present and future subordinated obligations of the Issuer that are not expressed by their terms to rank junior to or senior to the Subordinated Notes, and in priority to the claims of shareholders of the Issuer.
Documentation: Banca Popolare di Vicenza Euro 7,000,000,000 Euro Medium Term Note Programme dated 18 September 2015 (the “Programme”)
Optional Redemption: The Issuer may redeem, in whole but not in part, the Notes at par at the Call Date or at any time upon a Regulatory Event (fully or, to the extent permitted by the Applicable Banking Regulations, partially excluded) or a withholding tax event, subject to regulatory approval and the conditions to redemption
Var/Sub: None
Interest Rate: [9]% per annum up to (but excluding) the Call Date, payable quarterly in arrear. Thereafter reset to a new fixed rate, payable quarterly in arrear, based on the underlying 5-yr swap rate plus the initial margin, up to but excluding the Maturity Date
PONV Disclosure: Statutory – see “Risk Factors” in Offering Circular
Governing Law: English, except for the subordination provisions, which will be governed by Italian law
Selling Restrictions: As per the Programme. Reg S, Category 2, TEFRA D
Joint Bookrunners: BNP Paribas, UniCredit
Denominations: EUR 100k + 1k
Expected Listing: Luxembourg Stock Exchange, regulated market; listing to follow settlement
Timing: Books open, today's busine
