New issue for Unicredit. The bank led by Jean Pierre Mustier has started the placement of a subordinated bond loan for an amount of 1,25 billion euros. In a few hours, the title received requests for 3,5 billion euros.
In detail, it is a "callable" Tier2 bond in euro maturing on 15 January 2032. The instrument will not be repayable for the first seven years.
The boom in requests has led to a decrease to 280 points (from 310) of the spread on the midswap on which the yield to be paid to subscribers is calculated. The expected rating for the bond is Baa3 from Moody's and BB+ from S&P.
In charge of the operation Barclays, Bbva, Credit Agricole, Mediobanca, Morgan Stanley and Unicredit Bank Ag.
Unicredit's latest issue dates back to September 2019: a bond with a ten-year maturity, repayable in advance after five. The amount issued was 1,25 billion euro.
Another important news on Unicredit comes from Consob. Abu Dhabi Mubadala's sovereign wealth fund more than halved its stake, from 7 percent to 4,99 percent, according to January 2,02 communications. The operation took place on 20 December.
