Banco BPM Issues €500 Million Tier 2 Notes
Deal News | Jul 03, 2025 | White & Case LLP
Global law firm White & Case LLP has successfully advised Banco BPM S.p.A. on the issuance of €500 million in subordinated Tier 2 notes, which carry a 4% interest rate and are due in 2036. This financial instrument was issued under Banco BPM's Medium Term Note Programme and is listed on the Luxembourg Stock Exchange. The offering and sale were conducted in compliance with Regulation S under the US Securities Act. The advisory team from White & Case LLP was spearheaded by partner Michael Immordino who works out of both London and Milan, and local partner Pietro Magnaghi based in Milan. They were supported by partner Alessandro Zappasodi and associates Andrea Lamonica and Roberta Monasterolo, all based in Milan. This issuance helps Banco BPM solidify its financial standing and capabilities to operate in the global market.
Sectors
- Financial Services
- Legal Services
Geography
- Italy – Banco BPM is headquartered in Italy and the legal team involved in the issuance also has a strong presence in Milan.
- Luxembourg – The €500 million Tier 2 notes are listed on the Luxembourg Stock Exchange.
- United Kingdom – The law firm White & Case LLP has a major partner leading the transaction based in London.
Industry
- Financial Services – The issuance of subordinated Tier 2 notes falls under the financial services sector as it involves banking and securities.
- Legal Services – White & Case LLP, a global law firm advising on the transaction, represents the legal services sector.
Financials
- €500 million – The total amount issued through subordinated Tier 2 notes.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Banco BPM S.p.A. | Issuing Company | Company | An Italian bank undertaking the issuance of €500 million in subordinated Tier 2 notes. |
| White & Case LLP | Legal Advisor | Company | A global law firm advising Banco BPM on the bond issuance. |
| Michael Immordino | Lead Advisor | Person | Partner at White & Case leading the legal advisory team for Banco BPM's issuance and based in London & Milan. |
| Pietro Magnaghi | Local Partner | Person | Local partner at White & Case LLP based in Milan, supporting the transaction. |
| Alessandro Zappasodi | Partner | Person | Partner at White & Case LLP based in Milan, involved in the transaction. |
| Andrea Lamonica | Associate | Person | Associate at White & Case LLP based in Milan. |
| Roberta Monasterolo | Associate | Person | Associate at White & Case LLP based in Milan. |