19 Dec 2025

CMS Advises Mediobanca on Renewal of Two EMTN Programmes Worth €40 Billion and €12 Billion

"CMS and its UK office advised Mediobanca on the 2025 update and renewal of two EMTN programmes: a Base Prospectus approved by the Central Bank of Ireland and listed on Euronext Dublin for up to €40 billion, and a Base Prospectus approved by CONSOB and listed on Borsa Italiana's MOT for up to €12 billion."

CMS and CMS UK assisted the leading Italian bank Mediobanca in the 2025 renewal of its euro medium term note (EMTN) programmes. The transaction involved the update and relaunch of two separate EMTN programmes. The Base Prospectus for the programme approved by the Central Bank of Ireland has been listed on Euronext Dublin and provides for a maximum aggregate nominal amount of EUR 40 billion. The Base Prospectus approved by the Italian authority CONSOB has been listed on the Mercato Telematico delle Obbligazioni (MOT), managed by Borsa Italiana S.p.A., and provides for a maximum aggregate nominal amount of EUR 12 billion. CMS represented Mediobanca with a team composed by: partner Emiliano La Sala and senior associate Stefania Occhipinti. CMS UK represented Mediobanca with a team composed by: partner Michael Cavers and associate Kate Barber.
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