03/01/2011
5.41 p.m.
Press Release
Bond issues
On March 1, 2011, the Board of Directors of Mediolanum S.p.A. resolved to issue 3-year bonds, up to a maximum amount of 50 million euro, to be placed on the Italian retail market by Banca Mediolanum S.p.A, which is also acting as calculation agent.
The amount raised through the Bond issue will mainly go towards the restructuring of the existing short-term debt instruments currently outstanding between the Issuer and credit institutions outside the Mediolanum Group.
The issues will not be given a rating and provide for semi-annual coupons plus repayment of the entire principal in a lump sum at maturity. Part of the bonds will be issued as floaters, linked to the 6-month Euribor plus an 100 bps spread, with a minimum gross annual rate (floor) between 3.0% and 3.5% that will be defined closer to the issue date, whereas the rest will be issued as fixed-rate, with coupons up to a maximum of 4.0% gross annual rate.
The bonds will have a settlement date of April 29, 2011 and a maturity date of April 29, 2014.
The aforementioned bond offering, providing for a minimum total of €50,000 per single investment or separate offering, is exempt from the obligation to publish a prospectus as per article 100, paragraph 1 letter c) of the Consolidated Finance Law (“TUF”) currently in force, and article 34-ter, paragraph 1, letter d) of the “Issuers Regulation” adopted by CONSOB (resolution n. 11971 dated May 14 1999, as subsequently amended).
The Issuer doesn’t intend to submit an application for the admission to trading of the Bonds on any Italian or foreign regulated market.
Moreover, the Board of Directors has given the power to the CEO, Ennio Doris, and the Deputy Vice President, Alfredo Messina, severally, to set forth additional issues having similar characteristics, up to a maximum total of 300 million euro including the above mentioned issues, over the course of 2011.
Basiglio, March 1, 2011
