Banco BPM S.p.A.’s €400 Million Callable Subordinated Tier 2 Notes Offering

White & Case, Ashurst and Clifford Chance acted on the offering.

Banco BPM S.p.A. finalized the issuance of its €400 million callable subordinated Tier 2 notes due 2032.

The notes have been issued under Banco BPM’s €25 billion Euro Medium Term Note Programme, listed on the Luxembourg Stock Exchange and offered and sold pursuant to Regulation S under the US Securities Act.

The White & Case team that advised Banco BPM on the transaction included partners Michael Immordino (London & Milan) and Ferigo Foscari (Milan) and associate Pietro Magnaghi (Milan).

The Ashurst team was led by partner Michele Milanese supported by trainee Federico Squarcia.

Clifford Chance advised Banca Akros S.p.A. – Gruppo Banco BPM, Barclays Bank Ireland PLC, Credit Suisse Bank (Europe), S.A., Goldman Sachs International, J.P. Morgan AG, Société Générale – with a team led by partners Filippo Emanuele and Gioacchino Foti, with senior associate Jonathan Astbury, associate Francesco Napoli and trainee lawyer Julia Chobanyan.

Involved fees earner: Michele Milanese – Ashurst; Federico Squarcia – Ashurst; Jonathan Astbury – Clifford Chance; Julia Chobanyan – Clifford Chance; Filippo Emanuele – Clifford Chance; Gioacchino Foti – Clifford Chance; Francesco Napoli – Clifford Chance; Ferigo Foscari – White & Case; Michael Immordino – White & Case; Pietro Magnaghi – White & Case;

Law Firms: Ashurst; Clifford Chance; White & Case;

Clients: Banca Akros; Banco BPM S.p.A.; Barclays Bank Ireland PLC; Credit Suisse; Goldman Sachs International; JP Morgan; Société Générale;

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Author: Michael Patrini