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IGD issues a new €400 million bond at 2.125% expiring in November 2024

Banca Akros acted as Joint Bookrunner

The following is a brief description of the bond issue successfully completed on 20 November 2019 by Immobiliare Grande Distribuzione Società di Investimento Immobiliare Quotata S.p.A.(in short, IGD S.p.A.):

  • IGD S.p.A., a leading real estate developer and operator (rated Ba1 stable by Moody’s, BBB- negative by S&P and BBB- stable by Fitch), issued a new bond for an amount of €400 million.
  • Expiring on 28 November 2024 (bullet), the bond pays a coupon of 2.125% and has an issue price of 99.336 corresponding to a spread of 250 bps above the mid-swap rate for the period. The yield is 2.267%.
  • The stock will be listed on the regulated market of the Irish Stock Exchange (Euronext – GEM).
  • Total orders of almost €1 billion were collected, 2.5 times more than the amount offered. The security was only placed with professional investors and eligible counterparties.
  • The income from the issue will be used to repay expiring bonds and to finance the investment plan.
  • Banca Akros acted as Joint Bookrunner.
  • TEAM

Investment Banking

Giuseppe Puccio                  +39 02 43444441

Debt Capital Markets

Pierpaolo Rossi                     +39 02 43444642

Mariolina Garraffo                  +39 02 43444048

Mario Negri                            +39 02 43444653

Corporate & Institutional Banking

Nicola Scapillati                     +39 02 4344 4546


Debt Capital Markets
Banca Akros
Debt Capital Markets


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