April 9, 2019 / 3:21 PM / 5 months ago

Banco BPM considering issuing Additional Tier 1 bonds

MILAN, April 9 (Reuters) - Italian lender Banco BPM said on Tuesday it is considering issuing Additional Tier 1 instruments to optimize its capital structure.

Banco BPM said in a statement it had mandated Barclays and Goldman Sachs International as Global Coordinators and Joint Bookrunners while Banca Akros, BNP Paribas, JPMorgan and UniCredit will act as Joint Bookrunners.

Depending on market conditions, Banco BPM will assess whether to issue a ‘Euro denominated non call 2024 Perpetual’ Additional Tier1 bond which will feature a temporary principal write-down mechanism should the CET1 Ratio of the bank or at Group level fall below 5.125 percent.

Reporting by Gianluca Semeraro; editing by Stephen Jewkes

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