Intesa Sanpaolo Assicurazioni completes €500m Tier 2 bond issuance

Intesa Sanpaolo Assicurazioni S.p.A. has successfully finalised the placement of new Tier 2 subordinated bonds for a total nominal amount of €500 million. The notes carry an annual coupon of 4.487% and have a maturity date set for 18 May 2036.

The transaction involved a syndicate of financial institutions acting as joint lead managers, including Deutsche Bank Aktiengesellschaft, HSBC, J.P. Morgan, Goldman Sachs International, IMI - Intesa Sanpaolo, Morgan Stanley & Co. International plc, and Société Générale Corporate & Investment Banking.

Cappelli Riolo Calderaro Crisostomo Del Din & Partners (CRCCD) assisted the issuer, Intesa Sanpaolo Assicurazioni S.p.A., with a team led by senior partner Michele Crisostomo and partner Guido Bartolomei, supported by counsel and solicitor Fiona Chung, associate-solicitor Bianca Casini, associate Alessandro Zeppieri, and trainee Giuliano Tullio.

Clifford Chance assisted the joint lead managers with a team composed of partner Gioacchino Foti, senior of counsel Filippo Emanuele, counsel Jonathan Astbury, senior associates Francesco Napoli and Nicole Paccara, and trainee Pietro Zocche. Tax aspects of the operation were managed by partner Carlo Galli, senior associate Andrea Sgrilli, and associate Greta Gavazzoni.