Banca popolare dell’Emilia redeems €300 million covered floaters

By Susanna Moon

Chicago, Jan. 12 – Banca popolare dell’Emilia Romagna Societa Cooperativa said it will exercise its option to early redeem €300 million of floating-rate covered bonds on Monday.

The company will redeem the covered bonds at par plus accrued interest on Jan. 12, according to a company notice.

The notes were set to mature in April 2015 or October 2016 if the maturity date had been extended.

Banca Popolare dell'Emilia is the Modena, Italy-based parent bank of the BPER Group.

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