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Intesa Sanpaolo SpA Finalizes Exchange of Subordinated Notes

Friday, 13 Sep 2013 06:20am EDT 

Intesa Sanpaolo SpA announced that on September 13, 2013, the settlement date for the exchange of existing subordinated notes issued by Intesa Sanpaolo with new Tier 2 subordinated notes to be issued by Intesa Sanpaolo, Intesa Sanpaolo finalized the exchange of the notes accepted for exchange. The final aggregate principal amount of the existing notes accepted by Intesa Sanpaolo for exchange was equal to EUR 1,427,721,853 and the aggregate principal amount of new notes issued in exchange for the aggregate principal amount of the notes accepted was equal to EUR 1,444,789,000; in addition, Intesa Sanpaolo issued an aggregate principal amount of additional new notes equal to EUR 867,000. As a consequence of the exchange finalization, the Intesa Sanpaolo Group will register a positive contribution, including the positive impact of the unwinding of interest rate derivatives, of approximately EUR 90 million to its pre-tax income, of approximately EUR 60 million to its net income and of approximately 2 basis points to its Core Tier 1 ratio in the third quarter of fiscal year 2013. 

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