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A&O Shearman advises on the “premium” covered bond issued by Banca Popolare di Sondrio

A&O Shearman advises on the “premium” covered bond issued by Banca Popolare di Sondrio
Published Date
May 29 2025

A&O Shearman has advised financial institutions—IMI Intesa Sanpaolo (Divisione CIB) and UniCredit as global coordinators and BBVA, Natixis, Norddeutsche Landesbank Girozentrale, Raiffeisen Bank International, and UBS Europe SE as joint bookrunners—on the issuance by Banca Popolare di Sondrio of covered bonds for a total nominal value of EUR500 million, with maturity in 2030.

The bond was issued in the context of the EUR5 billion covered bond issuance program, guaranteed by Popso Covered Bond.

The covered bonds were issued in dematerialized form on Monte Titoli (Euronext Securities Milan) and were listed and admitted to trading on the Electronic Bond Market (MOT) of the Italian Stock Exchange. The covered bonds also achieved the "Premium" label pursuant to the Italian and European legislation that regulates the issuance of covered banking bonds.

The A&O Shearman team was led by partner Pietro Bellone, with the support of associate Aldo Brombin Tuzzato. Counsel Elia Ferdinando Clarizia advised in relation to tax aspects.

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