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UNICREDIT (UCG): UNICREDIT SIGNED DEFINITIVE AGREEMENTS WITH PIMCO AND FORTRESS FOR THE SALE OF €17.7 BN PORTFOLIO AS DEFINED IN PROJECT FINO PHASE 1

Raport bieżący nr 61/2017

Podstawa Prawna: Inne uregulowania
PRESS RELEASE

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UNICREDIT SIGNED DEFINITIVE AGREEMENTS WITH PIMCO AND FORTRESS FOR THE SALE OF €17.7 BN PORTFOLIO AS DEFINED IN PROJECT FINO PHASE 1

UniCredit today announced the signing of the definitive Transfer Agreements with Pimco and Fortress. This will allow the securitisation vehicles to purchase the respective segments relating to Pimco and Fortress’ stakes in the €17.7 bn1 portfolio as defined in Project FINO Phase 1.

The transaction will complete further to the issuance of ABS notes which is expected to occur by the end of July 2017. This will take place following the completion of both the registration of the securitisation vehicles with the Bank of Italy and the execution of the relevant securitisation documents. This is in line with what was stated at the Group's Capital Markets Day on December 13, 2016.

During Project FINO Phase 2 in the second half of the year, UniCredit will consider the possible assignment of public rating to the issued senior and mezzanine notes and the sale of the remaining UniCredit stake, to take it below 20 percent.

As part of this process, UniCredit will apply for regulatory approval related to "Significant Risk Transfer" which would increase UniCredit’s fully loaded CET1 ratio by approximately +10 bps based on the Group’s estimates. In addition, as mentioned during first quarter 2017 result presentation, there will be an estimated pro-cyclicality and models negative impact of about -40 bps.

Milan, 17 July 2017

Enquiries:

Media Relations:

Tel. +39 02 88623569;

e-mail: MediaRelations@unicredit.eu

Investor Relations:

Tel. + 39 02 88621872;

e-mail: InvestorRelations@unicredit.eu

1 The FINO portfolio, as communicated during the Capital Markets Day, originally amounted to €17.7 bn gross bad loans, which decreased to around €16.2 bn as at 30.06.17 thanks to work out activity.

PODPISY OSÓB REPREZENTUJĄCYCH SPÓŁKĘ
DataImię i NazwiskoStanowisko/FunkcjaPodpis
2017-07-17 Iwona Milewska Attorney of UniCredit

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