(Alliance News) - Banco BPM Spa on Tuesday announced a repurchase offer for cass of all or part of its "400,000,000 6.125% Additional Tier 1 Notes" perpetual bond with a total outstanding nominal amount of EUR400.0 million and the launch of a new issue of a fixed-rate reset Additional Tier 1 perpetual bond with a nominal amount expected to be EUR400 million.The offer will end on July 16.

"The offering, which is being made at the same time as the issuance of the new bonds is in line with the offeror's proactive management of its capital. In addition, the offer provides liquidity to investors who will participate in it and at the same time provides them with the opportunity to reinvest the funds in the new securities," reads the released note.

Banco BPM on Tuesday trades down 0.4 percent at EUR6.35 per share.

By Maurizio Carta, Alliance News reporter

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