Book size: 4500; Registration: Reg S Only; Comments: EUR750m 8yr cpn fxd 3.375% at 99.827, yld 3.40%. Spread: BTPS 4.2% 03/01/2034 +19bps mid (107.16 /3.21%) HR 95%. LEI: 81560029E2CE4D14F425;
Deal Comments
Social Bond
Reoffer: 8yr: BTPS+19bp / 99.827 / 3.40%
Benchmark: BTPS 4.2% 01-Mar-34 +19bps mid (107.16 /3.21%) HR 95%
Final Books: Final Books in excess of €4.5bn (incl. €145m JLM interest)
Launched: €750m @ BTPS+19bp - Orderbooks in excess of €4.2bn (including €145m JLM)
IPTs: 8yr: BTPS+26a
Issuer: Cassa Depositi e Prestiti S.p.A. (Ticker: CDEP, Country: IT)
LEI: 81560029E2CE4D14F425
Issuer Ratings: Baa2 Stable by Moody's / BBB+ Positive by S&P / BBB+ Stable by Fitch / BBB+ Positive by Scope
Exp.Issue Ratings: BBB+ by S&P / BBB+ by Fitch / BBB+ by Scope
Status: Senior Unsecured
Format: Reg S Bearer, Dematerialised
Size: €750m
Settlement: 16-Feb-26 (T+5)
Maturity: 16-Feb-34
Coupon: 3.375% Fixed, Annual, act/act ICMA
Listing: Borsa Italiana S.p.A. (M.O.T.) (Regulated Market)
Gov. Law: Italian Law
Denoms: €100k x €100k
Docs: Debt Issuance Programme, Base Prospectus dated 07-May-25 and the Supplements to the Base Prospectus dated 22-Sep-25 and 23-Jan-26
Clearing: Euronext Securities Milan (Monte Titoli)
Bookrunners: BBVA, BofA Securities, Crédit Agricole CIB, IMI-Intesa Sanpaolo, Morgan Stanley (B&D), Natixis and UniCredit
Target Market: Eligible Counterparties and Professional clients only (all distribution channels). No EU PRIIPs or UK PRIIPS key information document (KID) has been prepared as not available to retail in EEA or the UK
ISIN: IT0005695553
Use of Proceeds: The proceeds received by CDP from the issuance of the Notes (the Proceeds) will be used to finance or re-finance, in whole or in part, new and/or existing Eligible Social Assets in the Eligible Social Categories that meet the Eligibility Criteria - as further described in the Issuer’s Green, Social and Sustainability Bond Framework. The Green, Social and Sustainability Bond Framework as well as the relevant SPO are available on https://www.cdp.it/sitointernet/en/green_social_sust_bonds.page
Advertisement: This communication is an advertisement and is not a prospectus for the purposes of Regulation (EU) 2017/ 1129 and underlying legislation. The Debt Issuance Programme’s Base Prospectus and relevant supplements thereto are available on https://www.cdp.it/sitointernet/en/dept_issuance_programme.page and the Final Terms, when published, will be available on https://www.cdp.it/sitointernet/en/debt_issuance_programme.page and on https://live.euronext.com/en/product/bonds-detail/28928/documents
Marketing: An investor presentation is available on the Issuer’s website at https://www.cdp.it/internet/public/cms/documents/Social-Bond-2026-Investor-Presentation.pdf
Fees: A fee will be paid by the Issuer to the Bookrunners in association with this transaction
Timing: TOE: 15.47 CET|14.47 UKT/ FTT immediately