This transaction marks the Group’s fourth Social bond issuance. The proceeds will be used to finance or refinance, in whole or in part, eligible social activities (“Eligible Social Assets”), as defined in the issuer’s Green, Social & Sustainability Bond Framework. In particular, funds will support lending to SMEs with fewer than 50 employees operating in economically disadvantaged areas, with the aim of supporting their growth and promoting employment.

Mediobanca – Banca di Credito Finanziario S.p.A. (arranger and dealer of the Programme), Banco Santander, S.A., BofA Securities Europe SA, Equita SIM S.p.A., Iccrea Banca, Natixis, and NatWest Markets N.V. acted as joint lead managers.

The notes, issued in dematerialized form and centralized with Euronext Securities Milan (Monte Titoli), are governed by Italian law and is listed on the regulated market of the Luxembourg Stock Exchange.

The Hogan Lovells team that advised on the transaction was led by partner Annalisa Dentoni-Litta and composed of senior associate Roberto Trionte and trainee Davide Di Falco. Head of Tax Italy Serena Pietrosanti, counsel Maria Cristina Conte, and associate Mariateresa Soave Carparelli advises on the tax aspects.