19 Dec 2025

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

"CMS, including its UK office, advised Mediobanca on the renewal of two EMTN programmes: a €40 billion programme with a base prospectus approved by the Central Bank of Ireland and listed on Euronext Dublin, and a €12 billion programme with a base prospectus approved by Consob and admitted to trading on Borsa Italiana's MOT."

CMS and CMS UK assisted Mediobanca in the renewal of its two Euro Medium Term Note (EMTN) programmes. The transaction comprised two separate base prospectuses. The first programme, with a maximum aggregate amount of €40 billion, was approved by the Central Bank of Ireland and the related base prospectus is listed on Euronext Dublin. The second programme, with a maximum aggregate amount of €12 billion, was approved by Consob and the related base prospectus is admitted to trading on Borsa Italiana’s Mercato Telematico delle Obbligazioni (MOT). CMS represented client Mediobanca with a team composed by: Emiliano La Sala (partner) and Stefania Occhipinti (senior associate). CMS UK represented client Mediobanca with a team composed by: Michael Cavers (partner) and Kate Barber (associate). Mediobanca's in-house legal team represented Mediobanca with a team composed by: Francesco Vella — Head of Legal Investment Banking & Capital Markets; Federica Monaco — Group Legal Counsel; and the relevant business functions.
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