UNICREDIT (UCG): UniCredit successfully issues dual tranche Senior Preferred Notes for a total amount of EUR 2 billion - raport 1

Raport bieżący nr 1/2021

Podstawa Prawna: Inne uregulowania
Today, UniCredit S.p.A. (issuer rating Baa1/BBB/BBB-) launched a dual tranche Senior Preferred EUR 1 billion with 5 years maturity and EUR 1 billion with 10 years maturity. The combined amount represents the largest EUR institutional Senior Preferred issuance ever done by UniCredit.

The amount issued is part of the 2021 Funding Plan and confirms once again UniCredit’s ability to access the market in different formats.

The two tranches were set with the following terms:

- for the 5 years bond, a fixed coupon of 0.325% paid annually, with an issue/re-offer price of 99.891%, equivalent to a spread of 77 bps over the 5 year swap rate.


- for the 10 years bonds, a fixed coupon of 0.85%, paid annually, with an issue/re-offer price of 99.885%, equivalent to a spread of 105 bps over the 10 year swap rate.

The transaction has encountered a strong demand in excess of 3bn with more than 250 combined orders from institutional investors.

The final allocation of the 5 years bond has been mainly in favor of funds (61%), banks (36%) and insurance (2%), with the following geographical distribution: Germany/Austria (27%), Italy (23%), France (19%), UK (10%), and Iberia (8%).

In relation to the 10 years bond, the final allocation has seen mainly funds (62%), banks (33%) and insurance (5%), with the following geographical distribution: Germany/Austria (27%), France (23%), Italy (18%), UK (15%) and Iberia (7%).

Given the strong market feedback and the sizeable order book, the guidance initially set in the 95 bps area for the 5 years bond and in the 125 bps area over mid-swap for the 10 years, was firstly reviewed and then finally set respectively at 77 bps and 105 bps.

UniCredit Bank AG acted as Sole Book Runner and Lead Manager. Commerzbank, Credit Suisse, Danske, ING, Natixis and Santander acted as Joint Lead Managers (no books).

The bonds, documented under the issuer’s Euro Medium Term Notes Program, will rank pari passu with the outstanding Senior Preferred debt of the issuer. The expected ratings are as follows: Baa1 (Moody’s)/ BBB (S&P) /BBB- (Fitch).

Listing will be on the Luxembourg Stock Exchange.

Milan, 12 January 2021


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DataImię i NazwiskoStanowisko/FunkcjaPodpis
2021-01-12Lorenzo BerneriUniCredit Media Relations





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