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UNICREDIT (UCG): UniCredit successfully issues callable Senior Non-Preferred benchmark bond for USD 1 billion

Raport bieżący nr 43/2020

Podstawa Prawna: Inne uregulowania
UniCredit has launched a Fixed to Fixed Rate Senior Non-Preferred benchmark, with a 6 year maturity and a call after year 5, targeted to institutional investors for a total amount of USD1,000,000,000.

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The bond pays USD fixed rate coupons of 2.569% per cent per annum for the initial 5 years on a semi-annual basis, equivalent to 230bps over 5 years US Treasury rate. If not redeemed by the Issuer, coupon will be reset to the aggregate of the 1 year US Treasury rate plus 230bps.

This transaction allows UniCredit to pre-fund the execution of next year TLAC Funding Plan, confirming once more UniCredit’s fixed income investors appreciation and its broad market access in different formats, notwithstanding recent volatility due to Covid-19 outbreak.

The guidance was set initially at 260bps over the 5 year US Treasury and subsequently tightened by 30bps, setting the final spread to T +230bps, equivalent to Euro 5 year mid swap rate +195bps.

The book building process, which generated approx. USD 1 billion in demand just in the first hour since opening, reached a total amount of approx. USD 4 billion, attracting orders from over 170 global accounts: 76 per cent from North America, 23 per cent from Europe and 1 per cent from Middle East. The Notes were distributed to different institutional investors' categories such as asset managers (60 per cent), insurance companies/pension funds (15 per cent), hedge funds (13 per cent), central bank and official institutions (8 per cent) sand banks/private banks (3 per cent).

The Notes have not been registered under the United States Securities Act of 1933, as amended (the "Securities Act"), and may only be sold (i) to qualified institutional buyers, as defined under Rule 144A of the Securities Act, in transactions exempt from registration under the Securities Act and (ii) in accordance with Regulation S of the Securities Act or pursuant to another applicable exemption from the registration.

Citi, Goldman Sachs, JP Morgan, Morgan Stanley, UniCredit Bank AG and Wells Fargo have managed the placement and acted as Joint Bookrunners for the Notes.

The bonds will be issued pursuant to the GMTN Programme and are expected to have the following ratings: Baa2 (Moody's) / BBB- (S&P) / BB+ (Fitch). The minimum denomination of the Notes is USD 350,000 and USD 1,000 thereafter. The settlement is due on September 22, 2020.

Milan, 16th September 2020

Enquiries:

Media Relations: e-mail: MediaRelations@unicredit.eu

Investor Relations: e-mail: InvestorRelations@unicredit.eu

PODPISY OSÓB REPREZENTUJĄCYCH SPÓŁKĘ
DataImię i NazwiskoStanowisko/FunkcjaPodpis
2020-09-16Lorenzo BerneriUniCredit Media Relations

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