Banco BPM launches EUR 400 million bond while BPM Bank stock trades at EUR 14.05

Published on 10/16/2026 at 09:14 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

BPM Bank stock is EUR 14.05 on October 16, 2026, 0.14 percent above its Xetra close. The EUR 400 million bond pays 6.75 percent until October 21, 2032.

Capital and credit signals

Banco BPM completed a EUR 400 million bond issue on October 14, 2026.
S&P Global Ratings raised Banco BPM to BBB+ from BBB on September 29, 2026.
BPM Bank stock trades at EUR 14.05 at 9:09 a.m. CEST at Lang & Schwarz on October 16, 2026, 0.14 percent above the Xetra close of October 15, 2026.

Architektur-Render eines modernen Bürogebäudes mit Glasfassade neben einer Fahrzeug-Teststrecke — Brembo S.p.A. (ISIN IT0005218380) unterhält moderne Entwicklungszentren mit Glasfassaden und angrenzenden Fahrzeug-Teststrecken, Illustration mit AI erstellt.

Banco BPM (ISIN IT0005218380) is at EUR 14.05 at Lang & Schwarz on October 16, 2026, 0.14 percent above the Xetra close of October 15, 2026. The bank completed a EUR 400 million perpetual Additional Tier 1 bond issue on October 14, 2026, while offering to repurchase EUR 300 million of existing securities, according to MilanoFinanza.

What does the bond mean for capital?

The new security carries a fixed 6.75 percent coupon until October 21, 2032, compared with the 7.00 percent coupon on the bond targeted for repurchase. Orders exceeded EUR 1.5 billion, more than three times the EUR 400 million issue size, according to MilanoFinanza. The comparison points to substantial demand for the capital instrument, although the coupon remains discretionary under the security terms.

Three capital steps since June

On June 30, 2026, Banco BPM announced a EUR 500 million green Tier 2 bond for institutional investors, according to Banco BPM. On September 15, 2026, it reported completion of a EUR 7 million share purchase program serving employee incentive plans, according to Banco BPM. On October 14, 2026, the bank completed the EUR 400 million Additional Tier 1 issue, according to Banco BPM.

Which dates matter next?

The existing bond repurchase offer expires on October 21, 2026, and settlement of the new issue is scheduled for the same date, according to MilanoFinanza. Banco BPM is scheduled to approve additional periodic information for the nine months to September 30, 2026, on November 5, 2026, according to Banco BPM.

Credit quality adds a second signal

On September 29, 2026, S&P Global Ratings raised Banco BPM's long-term issuer credit rating to BBB+ from BBB and kept a positive outlook. The agency said the upgrade reflected restored risk-adjusted capitalization, improved asset quality and progress in integrating Anima, according to S&P Global Ratings. It projected risk-adjusted capital above 7 percent over the next two years, while identifying capital distributions and asset quality as factors investors will continue to weigh.

Stock trades near EUR 14

Banco BPM stock is valued at EUR 14.05 at Lang & Schwarz on October 16, 2026, at 9:09 a.m. CEST. That is EUR 0.02 above the Xetra close of October 15, 2026, equivalent to 0.14 percent.

The further course of trading is shown by the continuously updated real-time quote of BPM Bank stock.