Key Developments: Intesa Sanpaolo SpA (ISPn.MI)

ISPn.MI on Milan Stock Exchange

2.07EUR
11:30am EDT
Price Change (% chg)

€-0.03 (-1.52%)
Prev Close
€2.10
Open
€2.11
Day's High
€2.11
Day's Low
€2.06
Volume
5,680,400
Avg. Vol
5,064,033
52-wk High
€2.26
52-wk Low
€1.23

Search Stocks

Latest Key Developments (Source: Significant Developments)

Intesa Sanpaolo SpA announces merger by incorporation of Banca di Credito Sardo SpA and Cassa di Risparmio di Venezia SpA
Monday, 15 Sep 2014 10:38am EDT 

Intesa Sanpaolo SpA:Says that the Management Board of the bank, at its meeting of June 17, approved the plan for the merger by incorporation of Banca di Credito Sardo SpA and Cassa di Risparmio di Venezia SpA (companies wholly owned by the merging company) into Intesa Sanpaolo SpA.  Full Article

Intesa Sanpaolo SpA raises 1 billion euro on international markets with launch of subordinated tier 2 benchmark bond issue
Monday, 8 Sep 2014 03:24pm EDT 

Intesa Sanpaolo SpA:Says that Intesa Sanpaolo has launched a 1 billion euro subordinated Tier 2 benchmark bond issue targeted at international markets.It is a 12-year, fixed-rate issue under the Euro Medium Term Notes Programme of Intesa Sanpaolo.The coupon, payable annually in arrears on every Sep. 15 of each year from and including Sep. 15, 2015 up to the maturity date, is equal to 3.928 pct per annum.The re-offer price is 100 pct.The yield to maturity is 3.928 pct per annum, equivalent to the 12-year mid-swap rate plus 260 basis points.Settlement is due on Sep. 15.Minimum denomination of the bond issue is 100 thousand Euro and one thousand Euro thereafter.The bond is not offered to the Italian retail market; it is distributed to international institutional investors and financial institutions.It will be listed on the Luxembourg Stock Exchange and, as usual, traded Over- the-Counter.Banca IMI, BNP Paribas, BofA Merrill Lynch, Deutsche Bank and UBS Investment Bank act as joint lead managers for the placement of the bond.The ratings assigned to Intesa Sanpaolo's senior long-term debt are: Baa2 by Moody's, BBB by Standard & Poor's, BBB+ by Fitch and A (low) by DBRS.  Full Article

Intesa Sanpaolo SpA, UniCredit SpA, Clessidra, Nuove Partecipazioni and NK Rosneft' OAO's Long-Term Investments Luxembourg finalize Camfin transaction
Thursday, 10 Jul 2014 12:52pm EDT 

Intesa Sanpaolo SpA:Says Intesa Sanpaolo (ISP), Unicredit (UC), Clessidra, Nuove Partecipazioni (NP) and Long-Term Investments Luxembourg, designated by NK Rosneft' OAO, finalize the Camfin transaction, relating to the acquisition of the 50 pct Camfin stake for 552.7 mln euros.Long-Term Investments Luxembourg purchased from Clessidra the entire share capital of Lauro 54 (owning a participation representing 24.06 pct of Lauro 61/Camfin share capital) and from each of ISP and UC a participation representing 12.97 pct of Lauro 61/Camfin.The shareholders' meeting of Lauro 61 and Camfin resolved upon the partial and non-proportional demerger from Camfin of the assets and liabilities not related to the Pirelli equity stake.Resolved also upon the merger by incorporation of Lauro 61 into Camfin.Says, as a result of the above acquisitions, Long-Term Investments Luxembourg has become the indirect holder (through Lauro 54 and Lauro 61) of 50 pct of Camfin share capital.The remaining 50 pct of Camfin share capital is owned by NP, ISP and UC.NP, ISP and UC have entered into a shareholders’ agreement with respect to the equity stakes held by each of them in Lauro 61/Camfin (38.78, 5.61 and 5.61 pct, respectively), corresponding to 50 pct of Camfin share capital.Says NP, ISP and UC will contribute their stakes into a newco (COINV SpA), which will become the owner of 50 pct of Camfin share capital.COINV will be owned by NP for 76 pct and by each of ISP and UC for 12 pct.  Full Article

Intesa Sanpaolo SpA finalizes contribution of shareholding in NH Italia to NH Hotel Group
Monday, 30 Jun 2014 10:58am EDT 

Intesa Sanpaolo SpA:Says it has executed the capital increase by contributing its entire shareholding owned in NH Italia SpA, representing 44.5 pct of the latter's share capital, to NH Hotel Group SA, formerly NH Hoteles SA (NH).Says this follows the approval obtained at the shareholders' meeting of NH on June 26 regarding the capital increase reserved for Intesa Sanpaolo through the issue of 42,000,000 new ordinary shares of NH at a price of 4.70 euro per share.As a result of the execution of the capital increase, Intesa Sanpaolo holds, directly and indirectly, a shareholding equal to about 16 pct of NH's share capital.  Full Article

Intesa Sanpaolo SpA updates on merger by incorporation of Mediofactoring SpA into Intesa Sanpaolo
Friday, 27 Jun 2014 07:35am EDT 

Intesa Sanpaolo SpA:Says a deed was signed on June 20 relating to the merger by incorporation of Mediofactoring SpA into Intesa Sanpaolo.Says the merger will be performed with an increase in the absorbing company’s share capital from 8,549,266,378.64 euros to 8,553,821,316.56 euros through the issue of 8,759,496 ordinary shares with a nominal value of 0.52 euros each.The merger deed was registered in the Turin Company Register, and the merger will come into legal effect as of July 1.  Full Article

Intesa Sanpaolo SpA launches $2 billion subordinated Tier 2 benchmark bond issue targeted exclusively at US and Canadian markets
Friday, 20 Jun 2014 03:27am EDT 

Intesa Sanpaolo SpA:Says it has launched a $2 billion subordinated Tier 2 benchmark bond issue targeted exclusively at the US and Canadian markets.Says it is a 10-year, fixed-rate bond issue under the U.S. $ Medium Term Notes Programme of Intesa Sanpaolo.Says the coupon, payable semi-annually in arrears on every June 26 and Dec. 26 of each year from and including Dec. 26, 2014 up to the maturity date, is equal to 5.017 pct per annum.Says the re-offer price is 100 pct.Says considering the re-offer price, the yield to maturity is 5.017 pct per annum and the total spread for the investor is equal to the yield of 10-year U.S. Treasury Bill plus 240 basis points per annum.Settlement is due on June 26.The minimum denomination of the bond issue is $200,000 and $1,000 thereafter.Banca IMI, Barclays Capital, Goldman Sachs, JP Morgan Securities, Morgan Stanley and Wells Fargo Securities are the joint lead managers of the bond offering.  Full Article

Intesa Sanpaolo SpA exercises right to request demerger of Telco
Monday, 16 Jun 2014 11:06am EDT 

Intesa Sanpaolo SpA:Says, on June 16, the first date available in the time window specified under the terms of the Telco shareholders’ agreement, Intesa Sanpaolo has exercised its right to request the demerger of Telco.Says the execution is conditional upon obtaining the required clearances from relevant authorities.Says Intesa Sanpaolo to date holds about 7.3 pct of Telco’s share capital.Following the latter’s demerger, the Bank will own a direct shareholding in Telecom Italia, as a result of its pro-quota portion, equal to about 1.6 pct of the Telecom Italia ordinary share capital.Based on the closing price of the Telecom Italia ordinary share on June 13, the Intesa Sanpaolo stake in Telecom Italia would generate an unrealized capital gain, before tax, equal to about 35 million euros.  Full Article

Intesa Sanpaolo SpA launches 1 bln euros 7-year benchmark eurobond
Tuesday, 10 Jun 2014 10:41am EDT 

Intesa Sanpaolo SpA:Says it has launched a 1 billion euros senior unsecured benchmark eurobond targeted at international markets.It is a 7-year, fixed-rate issue under the Euro Medium Term Notes Programme of Intesa Sanpaolo.The 2 pct coupon is payable in arrears on June 18 of each year.The re-offer price is 99.690 pct.Considering the re-offer price, the yield to maturity is 2.048 pct per annum.The total spread for the investor is equal to the mid-swap rate plus 98 basis points.Settlement is due on June 18.Minimum denomination of the bond issue is 100 thousand euros and one thousand euros thereafter.The bond is not offered to the Italian retail market; it is distributed to international institutional investors and financial institutions.It will be listed on the Luxembourg Stock Exchange and, as usual, traded Over-the-Counter.Banca IMI, BofA Merrill Lynch, HSBC, Natixis and UBS Investment Bank act as joint lead managers for the placement of the bond.  Full Article

Banca Monte dei Paschi di Siena SpA and other shareholders including Intesa Sanpaolo SpA reach completed sale of 59.3 pct of SIA's share capital
Wednesday, 28 May 2014 04:10pm EDT 

Banca Monte dei Paschi di Siena SpA:Says Banca Monte dei Paschi di Siena, together with UniCredit, Intesa Sanpaolo SpA, and BNL have closed on May 28 the sale of 59.3 pct of SIA’s share capital.Of the 59.3 pct, 28.9 pct was held by Intesa Sanpaolo Group, 20.1 pct by UniCredit, 5.8 pct by Banca Monte dei Paschi di Siena and 4.5 pct by BNL.The sale was made to Fondo Strategico Italiano, F2i SGR and Orizzonte SGR.The consideration has been determined on the basis of an equity value for the 100 pct of the share capital of SIA equal to c. 765 million euros, of which c. 100 million euros paid as dividends before closing.As a result of the transaction, FondoStrategico Italiano will hold 42.3 pct in SIA, F2i SGR 10.3 pct, and Orizzonte SGR 6.7 pct.Intesa Sanpaolo and UniCredit will retain a 4 pct stake each, while Banca Monte dei Paschi di Siena and BNL have sold their shares in full and the other existing shareholders will retain the remainder 32.7 pct of SIA’s share capital.As a result of the transaction, Banca Monte dei Paschi di Siena will post a total positive P&L impact of about 37 mln euros.  Full Article

Intesa Sanpaolo agrees to sell stake in NH Hoteles-Reuters
Monday, 26 May 2014 12:24pm EDT 

NH Hoteles SA:Intesa Sanpaolo agreed to sell stake in NH Hoteles for 132.7 million euros ($181.2 million) through share sale and purchase agreement with China HNA Group-Reuters.After transaction is completed, Intesa Sanpaolo will hold 7.6 percent of Spanish hotels group.Agreement is between Intesa Sanpaolo on one side and HNA, parent company of Chinese airline Hainan Airlines, and its fully-owned special purpose vehicle Tangla Spain on the other.  Full Article

Italy's Intesa Sanpaolo took 4 bln euros in cheap ECB funds

MILAN, Sept 18 - Intesa Sanpaolo took 4 billion euros ($5.2 billion) in cheap four-year TLTRO funds the European Central Bank offered in a tender on Thursday to euro zone banks to help revive the block's ailing economy.

Search Stocks