Unicredit has launched a new fixed-rate senior bond, with a 10-year maturity for an amount equal to 1 billion euro. The operation saw the participation of over 120 institutional investors with total orders for approximately 1,8 billion. The bond pays a coupon of 2,125% with an issue price of 99,644%. "Thanks to the excellent feedback obtained from investors - explains a note from the group - Unicredit has revised the level of spread above the reference parameter, initially equal to 180/185 basis points, to 175 basis points allowing to reach a definitive spread by 173 basis points”.
The Unicredit bond represents the first senior institutional issue with ten-year maturity issued by a bank of peripheral countries since 2013; then it was launched by Intesa Sanpaolo.
The placement was managed by UniCredit Bank as Sole Bookrunner and Bnp Paribas, HSBC, Goldman Sachs International and Nomura as joint lead managers.
The operation saw the participation of over 120 institutional investors including funds (75%), insurance companies (13%) and banks (12%). In terms of geographical distribution, the main contributions came from Germany/Austria (24%), France (24%), UK/Ireland (20%), Italy (15%) and Benelux (10%).
