Ubi Banca yesterday successfully launched a 5-year fixed-rate senior unsecured benchmark bond issue for an amount of 750 million euro, under the group's Emtn Programme. During the morning, orders were received from around 100 investors, for a total of over 1,2 billion.
27% of the final placement was subscribed by Italian investors and the remaining 73% by foreign investors, with a strong presence of French investors equal to 51%. Subscriptions by Investment Funds (83%) were prevalent, followed by Banks & Private Banking (12%) and other investors (5%).
The influx of orders made it possible to gradually reduce, during the placement process, the spread initially announced to MS + low 70s bps, allowing the transaction to be priced at 62 basis points above the 5-year mid-swap rate, with a coupon of 0,75% payable in arrears on 17 October of each year.
The re-offer price was set at 99,474% and the related yield to maturity at 0,858%. The settlement date will be 17 October 2017. The maturity date is 17 October 2022. The Joint Bookrunners in charge of distributing the security are: Commerzbank, Deutsche Bank, JP Morgan, Nomura, Societe Generale and Unicredit.
