ROMA (ITALPRESS) – UniCredit has successfully issued a Senior Preferred bond with an expiry of 4.5 years recalled after 3.5 years for an amount of 1.25 billion euros and a Senior Preferred title with an expiry of 10 years for 750 million euros, aimed at institutional investors.
The issue took place following a book building process that collected total demand for over €7.3 billion, with more than 350 orders from global investors. The following conditions for the two tranches were fixed as a result of the strong feedback received:
– for the bond with a maturity of 4.5 years recallable after 3.5 years, the level initially communicated to the market of 85pb above the mid-swap rate at 3.5 years has been revised and fixed at 55pb. Consequently, the annual coupon was determined at 2.875%, with an issue price of 99.778%. The obligation provides for the possibility of a single call by the issuer in July 2029. If the obligation is not recalled, the coupons for subsequent periods until the expiry date will be fixed on the basis of the Euribor at 3 months plus the initial spread of 55pb;
– for bond with maturity at 10 years, the level initially communicated to the market of 120/125pb above the mid-swap rate at 10 years was revised and fixed at 95pb. Consequently, the annual coupon was determined at 3.80%, with an issue price of 99.738%.
– photos of repertoire IPA Agency –
(ITALPRESS).
