Bper Banca SpA (BPEIM)

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Bper Banca SpA (BPEIM)

C/P	Industry	Status	Ticker(s)	Issuer(s)	Size(m)		Tranches	Region	Date
IGC	FNCL	PRCD	BPEIM	Bper Banca SpA	€500		1	EMEA	Sep 21, 2026

Tranche #1Bper Banca SpA

currency

EUR

size (m)

500.000

maturity

Sep 28, 2030

type

Fixed to Floating

tenor

4.000

call

3.00

registration

Reg S Only

benchmark

Swaps

ranking

Senior Non-Preferred

moody's

s&p

BBB-

fitch

BBB-

re-open/tap

ipt

MS+100 area

ipt-pxd

-30

guidance

STL

spread

coupon

4.125%

spread set

price

99.87000

yield

4.172%

book size (m)

1,600

peak book (m)

1,900

x-covered

3.2

book attrition

-15.79%

nic

billing & delivering

active leads

joint leads

,,,,

passive leads

co-managers

coordinating managers

book size (m)

1,600

peak book (m)

1,900

x-covered

3.2

book attrition

-15.79%

nic

billing & delivering

active leads

joint leads

,,,,

passive leads

co-managers

coordinating managers

Tranche Comments

Book size: 1600; First Pay: 2027-09-28; Redemption: 2029-09-28; Registration: Reg S Only; Comments: +94.3 bps vs OBL 2.1 04/12/29 #189 (px 97.27). HR 117%. Clean-Up Call: 75%. Regulatory Call: Yes. LEI: N747OI7JINV7RUUH6190;

Use of Proceeds

An amount equivalent to the net proceeds of the Notes will be allocated to finance and/or re-finance, in whole or in part, Eligible Green Assets, as defined within the Issuer's Green, Social and Sustainability Bond Framework dated May 2023

Relative Value

Green Senior Non-Preferred
NC3yr (Sep 2029) @ MS+100
Implied Spread for fresh NC3yr @ MS+65
Priced at MS+70
NIC of +5

COMPS
Announcement	Issuer	Issue Ratings (M/S/F/D)	ESG	Size (€m)	Coupon (%)	Call Date	Maturity Date	Bid I-Sprd (bps)
04/09/2023	BPER BANCA SPA	Baa2/-/BBB-/BBB	-	500	5.75	11/09/2028	11/09/2029	50
08/01/2025	BPER BANCA SPA	Baa2/-/-/BBB	-	500	3.625	15/01/2030	15/01/2031	65
16/01/2024	UNICREDIT SPA	Baa2+/BBB/BBB+/-	-	1,000	4.3	23/01/2030	23/01/2031	61

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CreditFlow: End of Day (Europe IG)	Sep 21, 2026

Sep 21, 2026

1 to 1 of 1

	PRICED: BPER Banca €500m 4NC3 SNP FXD/FRN; MS+70bp	Sep 21, 2026
	ALLOCATIONS OUT: BPER Banca €500m 4NC3 Green SNP FXD/FRN; MS+70	Sep 21, 2026
	LAUNCHED: BPER Banca €500m 4NC3 Green SNP FXD/FRN; MS+70bp	Sep 21, 2026
	UPDATE (BOOKS): BPER Banca €500m WNG 4NC3 SNP FXD/FRN; MS+100a	Sep 21, 2026
	NEW ISSUE: BPER Banca €500m WNG 4NC3 SNP FXD/FRN; MS+100a	Sep 21, 2026